Join Date: Nov 2008
Thanked 0 Times in 0 Posts
Rep Power: 7
Boat buying and taxes?
Just curious how taxes work on boats. For instance, most boats are likely not made in the country where buyers live. So, can you not go pick up your own and avoid any taxes in your home country as well as the exporting one?
For instance, I live in Hong Kong. We have no taxes or import duty on pretty much everything except cigarettes. So, if I bought an American or Swedish or South African boat, clearly if it was bought here I would pay no taxes. That said, what if I wanted to take delivery in say Florida? I wouldn't want to pay Florida taxes just because I picked it up there - technically, I would like to pick it up en route from South Africa (for example) and just get first landfall in Florida (or wherever I were going to actually start sailing from). I doubt I would start sailing from HK which is why this factors into my thought process as the thought of paying Florida or South Africa or wherever taxes on a boat would be a major expense that theoretically could be avoided I would think.