The boat I own is registered in South Africa
to the company that I bought the boat from. V.A.T. has not been paid on the boat. The time has now come to registering the boat in my name and I need to do it outside SA, because if I register the boat there I'll have to pay V.A.T.
I needless to say want to avoid paying the V.A.T., but what's the best way of doing just that?
Are there any smart ways to register the boat, to avoid paying the dreaded V.A.T?
the V.A.T. is 24%, so you can imagine how economically unviable paying that is for me. If it wasn't for the fact that I am returning to Norway
with the boat early next year, I would register her there, because in Norway you don't need to pay the V.A.T. before you get the boat into Norwegian waters. Since I am returning home, I need to think of something smart. Does anyone have any god suggestions?