May I draw on your Eu vat knowledge?
I am currently in the process of purchasing a yacht (deposit paid). as follows…..
Seller is a non Eu individual.
Yacht is lying in Spain. (Last re entered Eu 3 months ago)
Yacht is registered in Gibraltar.
I am Uk resident.
Planning to maintain British flag (either Uk or Gibraltar).
Broker is Portugal based.
Yacht is being sold as “Vat not paid”.
The broker assures me that as I am a non Eu citizen and plan to maintain Uk/Gib registration, I will not be required to pay Vat to either Spain, Portugal or indeed in the Eu. As I will be able to proceed happily under T.I rules.
I really want to proceed with the purchase. Though am I being incredibly naive?
It would be a problem if I was slapped with a vat bill after the fact.
If you say that vat will be due by myself, is there a work-around. Ie might I be allowed a time limit to sail it to Gibraltar to reset the TI to my ownership?
Looking at past threads, you seem to have a fair knowledge of VAT regulation on boats in EU.
I'm looking to purchase a boat VAT paid in EU (Italy). USA Flag
I'm not EU citizen or resident.
The boat will be re flagged Australian.
The sale/purchase contract will be USA
Will the VAT paid status follow the boat through the sale/purchase and reflagging process?
Thanks in advance, any info greatly appreciated.