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VAT can be a difficult subject to navigate - in 5 pages we give #superyacht captains everything they need to know about buying from a provisioner
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VAT & TVA EXPLAINED
A provisioners view of European VAT law
COMPLICATED but not impossible2
Photo by jDevaun - http://flic.kr/p/8v1BBQ
WE PAY VAT• On everything we buy in FR
• 2.1% on Magazines
• 5.5% of Food
• 20% on everything else
• On everything we buy in UK
• 0% on food
• 20% on everything else
WE CHARGE VAT
• On everything that we deliver:
• In the UK
• In France
• Because:
• We get inspected to make sure that we comply
• We pay if things haven’t been done properly
Photo by David Kracht - http://flic.kr/p/dm3USM
REMEMBER
• VAT is the largest component of any bill
• It is always much more than excise duty on alcohol
• If you are VAT registered:
• you can claim back VAT
• we can deliver VAT free outside France
Photo by antonychammond - http://flic.kr/p/cguFJ5
OUTSIDE FR• EU distance selling
regulations stipulate:
• If you are VAT registered, deliveries outside France can be zero rated
• If you are not VAT registered we still need to charge you VAT
WORLDWIDE no VAT
Photo by NASA Goddard Photo and Video - http://flic.kr/p/dyKu1P
–Benjamin Franklin
“In this world nothing can be said to be certain,
except death and taxes”