VAT on Yacht purchase

[dpatel]

Somebody has told me that it is possible to get around paying VAT on my yacht purchase.

I don't yet know what they are proposing but is there any truth in it?

D

[tom 7000]

Will you be hiring out your yacht full time to fee paying customers, that should get you a vat break of some sorts.?

Or perhaps you should ask the question again and use the heading International tax planning, I hear a lot of ships are owned via panamanian companies, but its what someone in the pub told me and you want to know if this is so from a tax wizard not a man in the pub.

tom

[webmaster]

Please do not repost the question as tom 7000 suggested.

[Generix]

Need more details, specifically; where you are, where the yacht will be delivered to, company / person supplying it etc.

If you can manipulate / influence where you will take delivery of the yacht then I believe it is entirely possible to avoid the VAT, will have to do some reading though.