Flat Rate VAT Reduction on Charters Allowed Again in France

The provisions of the BOFIP (Bulletin Officiel des Impôts) as of 29 January 2020, which put an end to the flat-rate VAT reduction system, has been cancelled this morning by a new BOFIP ref 30 March 2020, which allows the flat-rate reduction, applicable under the former BOFIP, to apply after 31 March 2020.

This decision, which is linked to the economic context by the COVID-19 health crisis, will certainly be re-examined when the crisis is resolved.

ECPY, which had called for this measure, thanks the tax authorities and the government for this decision, which should help to encourage yachts to come to French waters for the 2020 season. Its team is working closely with the Administration to facilitate and create the necessary conditions for yachts to come to the Mediterranean in 2020.

Image: Pixabay