provisioning vat for superyachts

VAT & TVA EXPLAINED

A provisioners view of European VAT law

COMPLICATED but not impossible2

Photo by jDevaun - http://flic.kr/p/8v1BBQ

WE PAY VAT• On everything we buy in FR

• 2.1% on Magazines

• 5.5% of Food

• 20% on everything else

• On everything we buy in UK

• 0% on food

• 20% on everything else

WE CHARGE VAT

• On everything that we deliver:

• In the UK

• In France

• Because:

• We get inspected to make sure that we comply

• We pay if things haven’t been done properly

Photo by David Kracht - http://flic.kr/p/dm3USM

REMEMBER

• VAT is the largest component of any bill

• It is always much more than excise duty on alcohol

• If you are VAT registered:

• you can claim back VAT

• we can deliver VAT free outside France

Photo by antonychammond - http://flic.kr/p/cguFJ5

OUTSIDE FR• EU distance selling

regulations stipulate:

• If you are VAT registered, deliveries outside France can be zero rated

• If you are not VAT registered we still need to charge you VAT

WORLDWIDE no VAT

Photo by NASA Goddard Photo and Video - http://flic.kr/p/dyKu1P

–Benjamin Franklin

“In this world nothing can be said to be certain,

except death and taxes”