The European Commission stepped up its agenda to tackle tax avoidance in the yacht sector and decided to send letters of formal notice to Italy and to the UK concerning the Isle of Man, as tax breaks being applied in the pleasure craft of those regions were highlighted by last year’s ‘Paradise Papers’ leaks.
On the same wavelength of the decision to send letters of formal notice to Cyprus, Greece and Malta for not levying the correct amount of Value-Added Tax (VAT) on the provision of yachts,...
https://safety4sea.com/eu-takes-legal-action-over-yacht-tax-avoidance/