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25% tariffs on US-built yachts
What we know so far...
As of today, the main EU yachting jurisdictions have not yet published the procedures governing the application of the 25% import duty on yachts. While there can be no certainty until they do, we are confident Customs will release a circular in the near future. Accordingly, the below are general guidelines only.
1. All US-built yachts may be imported into the EU under the existing schemes. We are waiting for clarification as to how the 25% tariff will be applied.
2. Only yachts and tenders entirely built in the U.S will be affected. The flag, the location and/or the previous position are not relevant. For instance, if a US-built yacht arrives into the EU from a country other than the US tariffs will apply.
3. US-built yachts that are to be chartered in the EU and imported into the EU after 22 June 2018 will be affected regardless of whether they entered the EU under a VAT exemption (French Commercial Exemption) or VAT deferment (French Reverse Charge) scheme.
4. Private US-Built yachts entering the EU under TA (Temporary Admission) will not be affected. We are waiting for clarification on the YET program as an alternative for yachts wishing to engage in charter.
5. If a product is subject to existing customs duties, the 25% tariff will be added on top of current duties. For example: boats under 12m are subject to 1.70% customs duties. On importation, the 25% tariff will be added.
6. Tariffs will not apply to US-built yachts imported into the EU before 22 June 2018.
7. The tariff will affect new US build Vessels looking to be imported into the E.U. after delivery.
8. Tenders under their own registration will be affected. We are waiting for further clarification about tenders stored on board.
9. Spare-parts might be affected. However, until further guidance is provided, contact us before sending any spare parts even if you are already in EU waters.
If you have any questions, don’t hesitate to contact us. We will publish further updates as soon as we receive them.
The content is provided for information purposes only and does not constitute advice and should not be treated as such.
1. All US-built yachts may be imported into the EU under the existing schemes. We are waiting for clarification as to how the 25% tariff will be applied.
2. Only yachts and tenders entirely built in the U.S will be affected. The flag, the location and/or the previous position are not relevant. For instance, if a US-built yacht arrives into the EU from a country other than the US tariffs will apply.
3. US-built yachts that are to be chartered in the EU and imported into the EU after 22 June 2018 will be affected regardless of whether they entered the EU under a VAT exemption (French Commercial Exemption) or VAT deferment (French Reverse Charge) scheme.
4. Private US-Built yachts entering the EU under TA (Temporary Admission) will not be affected. We are waiting for clarification on the YET program as an alternative for yachts wishing to engage in charter.
5. If a product is subject to existing customs duties, the 25% tariff will be added on top of current duties. For example: boats under 12m are subject to 1.70% customs duties. On importation, the 25% tariff will be added.
6. Tariffs will not apply to US-built yachts imported into the EU before 22 June 2018.
7. The tariff will affect new US build Vessels looking to be imported into the E.U. after delivery.
8. Tenders under their own registration will be affected. We are waiting for further clarification about tenders stored on board.
9. Spare-parts might be affected. However, until further guidance is provided, contact us before sending any spare parts even if you are already in EU waters.
If you have any questions, don’t hesitate to contact us. We will publish further updates as soon as we receive them.
The content is provided for information purposes only and does not constitute advice and should not be treated as such.
