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VAT exemption on "Charter Fee" applies in french waters only
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Due to the new VAT regulations (Directive 2006/112/EC as amended by Directive 2008/8/EC)
effective in all member States of European Union as of 1st january 2010. Now, stop trying to play games: the “French commercial exemption” regime for commercial yachts applies only to operations in French territorial waters, but doesn’t apply when the yacht operate into other EU Member States territorial waters. In order to avoid the unrest and confusion created by the extraordinary solution of french finance authorities with the “Memorandum” dated 17th may 2004, ISYBA explain in two newsletter the situation in EU and suggest a “VAT clause” to be added to MYBA Charter Agreement. |
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BROKER or Central Agent - a big difference
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The word "Broker" means the duly licensed broker who acts as Indipendent Business Transaction Intermediary serving both Owner and Charterer in the closing of the Charter Agreement.
In Italy: 1) who act as “broker” shall hold the qualification of “Mediatore Marittimo” (as per italian Law n. 478/1968) and shall be enrolled in the “Register of Ship & Yacht Brokers” hold by local Chamber of Commerce; all ISYBA Members are duly licensed brokers (“Mediatori Marittimi”). 2) some italian operators that don’t hold the qualification of “Mediatore Marittimo”, and act illegaly as “broker”, are astonishingly listed as MYBA Members in order to obtain fraudentely a sort of “lobby protection” and “false reputation” on the market. 3) only a “Mediatore Marittimo” may be appointed as “Stakeholder” in order to hold and manage Charterer’s funds accordingly with the provision of the Agrement. Definitions a) “Broker” means the duly licensed broker who acts as Indipendent Business Transaction Intermediary serving both Clients in the closing of a transaction. The Broker may be appointed as "Stakeholder" in order to hold and manage Purchaser's or Charterer's funds accordingly with the provision of the Agrement. b) “Central Agent” means the agent appointed by the OWNER that has legal authority to offer for sale or charter the vessel. Acting in the sole interest of the Owner, the Central Agent may not be appointed as "Stakeholder" in order to hold and manage Purchaser's or Charterer's funds accordingly with the provision of the Agrement. |
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Yacht Agent in Italy - italian Law n. 135/1977
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In Italy the professional the activity of "Ship & Yacht Agent" (Raccomandatario Marittimo) must be performed only by a Person/Company licensed by the italian Law n. 135/1977, registered in the local Chamber of Commerce and in the local Maritime Authority. The service of a legal italian Agent (Raccomandatario Marittimo) is mainly to handle the ship/yacht from her arrival to departure on behalf of the Owner and assisting the ship/yacht's Master (i.e.: Transit call (Ship's stores, provisions, Bunkering, Water supply, etc..); Dry-docking / Repairs; Crew Changes (Immigration formalities and Hotel reservation, Air ticketing, Meet & great service at the airport); Port and Custom clearance; Liaison with local Authorities; Tugboats; Laid up; Watchmen. In Italy the tariffs (minimum and maximum) for the activity of any "Ship & Yacht Agent" (Raccomandatario Marittimo) are compulsory and established by ministerial decree (Minister of Transport).
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