Yachts Hasseled By The Tax Man In Eruope - SailNet Community
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post #1 of 8 Old 08-19-2012 Thread Starter
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Yachts Hasseled By The Tax Man In Eruope

Ran across this news story and altho there talking about the wealthy yacht owners I'm sure the regular folk are under the same microscope.

Italy's tax hunters target super-rich and their yachts off the Sardinian coast | World news | The Observer
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post #2 of 8 Old 08-19-2012
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Re: Yachts Hasseled By The Tax Man In Eruope

Thats been the story of socialist Italy since the end of WWII and with almost hundreds of failed Italian governments. "The rich" simply reflag to another nationality or enter the boat into a 'trust' ownership, etc., keep their boats in Italy (now EU) for maximum Schengen Treaty (EU) terms ... all is well, and the Italian government continues to suffer from a loss 30% GDP into the 'black market'. People are smarter than governments.
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post #3 of 8 Old 08-19-2012
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Re: Yachts Hasseled By The Tax Man In Eruope

Meh....there is a world wide backlash against the wealthy beginning to start in earnest. It's not just in the US that people are fed up with the extremely wealthy living above the law, outside taxes, hurting and stepping on the middle class to greedily preserve their way of life. It's starting to happen all over. It would not surprise me, in years to come, that it will be dangerous, perhaps even deadly, to be perceived as extremely wealthy.

People are pissed off. The "have nots" have "had enough".....
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post #4 of 8 Old 08-19-2012
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Re: Yachts Hasseled By The Tax Man In Eruope

A non anchor zone is for everyone.
And getting caught evading taxes does not make you a victim.
What is the problem here?
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post #5 of 8 Old 08-19-2012
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Re: Yachts Hasseled By The Tax Man In Eruope

Just be glad they don't have a bad spelling tax.

Never forget them. Do something to prevent it from happening again.
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post #6 of 8 Old 08-19-2012
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Yachts Hasseled By The Tax Man In Eruope

So what's the story with all the yachts with the home port of Bikini or Georgetown CI? Are the owners Americans who own foreign companies?

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post #7 of 8 Old 08-20-2012
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Re: Yachts Hasseled By The Tax Man In Eruope

From what I understand, the EU wants to tax foreign yachts after 6 months, VAT (basically import duty). When it was separate countries, we traveled between then w.o problems, but the EU stretches from the UK to Greece. I don't know about you ParadiseParrot, but I get taxed enough from the US; I certainly don't want to be taxed by an entity to which I don't belong or get ANY benefits from. If you do import then you must sail under their regulations, and they are VERY strict about all kinds of really excessive safety gear, licensing etc. and all that costs BIG bucks.
There are legal ways around the payment of the tax, but again, from what I've been told, the time and energy spent doing it seems nearly as costly.
I pray to Neptune each and every day for the collapse of the European Union. THEN I'll sail to Europe.
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post #8 of 8 Old 08-20-2012
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Re: Yachts Hasseled By The Tax Man In Eruope

6 months? The references I find say 18 months. That's not very ungenerous. After all, a foreign boat needs a 12-month cruising permit to enter the US, with no guarantee it will be renewed. We have different tax schemes, and in the US most states will only give you 3-6 months before they start demanding sales and use tax. Some will demand property tax. If we had VAT...

But taxmen all over the world play harder when times are lean, there's no surprise there. Hang around too long, and you can become a "resident" whether you like it or not. Except, of course, in the many places where "too long" means they'll track you down and throw you out, or in jail, instead of taxing you.
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