Changes in French VAT Exemption for commercial vessels

As expected, France has published a change in its VAT law and policy relating to commercial vessels. Published as Article 70 of Law No 2010-1658 of 29 December 2010 amending Article 262 of the unified French Tax Code, the Code Général des Impôts, the change now limits VAT exemption only to those commercial vessels operating on the high seas. In a measure underlining the importance of the “high seas” requirement in this change, ships’ provisions supplied to inshore fishing vessels are now also excluded from exemption. The change is effective from 1 January 2011. (More Stephens, Juanary, 2011)
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