Since June 2018, there had been a 25% duty ad valorem that was applicable to yachts that were built in the United States; it has recently been announced by the EU Commission Regulation that it has been suspended. The 25% duty is suspended from January 1st, 2022 until December 31, 2023.
This means that new yachts built in the United States or yachts that have never been formally imported before, will be able to be imported to the European Union this year without the need to pay the 25% duty.
According to YMCA Yachting, “We would like to point out one very important consideration for yachts imported in the EU prior to June 22nd, 2018: if they are still owned by the same owning company to this day, they must have carried out at least one charter (anywhere in the world) under commercial registration prior to the end of the year 2021. It is a crucial condition to benefit from the commercial exemption in 2022.”
For further information on this news, please contact YMCA Yachting at [email protected].