VAT is a topical and worrying subject as Flavio Briatore discovered when Force Blue was recently seized for alleged TVA irregularities in La Spezia. However, as the ISYBA
(the Italian Ship and Yacht Brokers Association) correctly pointed out, extra scrutiny by fiscal authorities of TVA or VAT schemes is a European wide phenomenon. Here Alex
Chumillas of Iuris Marine describes some of the potential problems that may arise in Spanish waters. He also looks at the liability or not of paying Immatriculation Tax. (The Yacht Report)
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