How much percent is the VAT rate on Greece yacht rentals?
VAT rates are quite differently regulated for Greece yacht rentals compared to the other Mediterranean counties (such as Croatia, Italy, France, and Turkey).
Greece has reduced its VAT during the pandemic to Subsidized so that they are less affected by the economic effects of the pandemic.
This law is still in effect and has allowed the Greek yacht industry to gain a great advantage over its competitors.
But even the reduced rate has tiered discounts when the yachts complied with certain regulations and passed surveys.
1. Standard rates after Subsidizing due to the pandemic:
The standard VAT rate for day cruises is %24 in Greece (within 6 nmiles). However, due to the Pandemic, the VAT rate was reduced to %13 for the Crewed yacht charter for 2 days or more. But still, there are more discount opportunities between 40-60%. Which depends on the cruising area and the Licence of the Yacht.
Another means; is a VAT rate % of 13 for the Crewed yacht charter trips from Piraeus to ports of Saronic and Argolic Gulf or from ports of N. and S. Euboean Gulf up to Volos or between ports within the Corinth Gulf up to Patras.
2. "Protocol of General Inspection of Small Passenger Ship" for Greek waters:
For yachts that pass the "Protocol of General Inspection of Small Passenger Ship" for international cruises, a discount of 60% applies with the final VAT rate being 5,2%.
Another means; is a Crewed yacht charter that performs international trips beyond our territorial waters without proving their approach to a foreign port is entitled to a 60% V.A.T
3. "Protocol of General Inspection of Small Passenger Ship" for international cruises:
For yachts that pass the "Protocol of General Inspection of Small Passenger Ship" for Greek waters cruises, a discount of 50% applies with the final VAT rate being 6,5%.
Another means; is a VAT rate % of 13 for the Crewed yacht charter trips from Piraeus, Corfu, Northern Greece, Cyclades, Mytilini, Crete, and Dodecanese.
By C. Burak KOREL
