At DHK we have more than 15 years of experience in providing tax and legal advice for the water sports sector. Among other things, we advise on what is and isn’t possible from the VAT perspective in relation to operating yachts (fully or partially) as a business (on behalf of e.g. customers, shipyards and a wide variety of HISWA members). Some topics on which we advise are:
- The tax regime for the building, refit and/or operation of yachts;
- VAT on recreational and sports activities; and
- Tax aspects of the valuation of real property.
We are designated as a tax specialist for the sector by the HISWA water sports association. For more than 15 years we have assisted with HISWA projects aimed at:
- Optimising the tax position of the members;
- Avoiding tax risks; and
- Creating a level playing field in the tax area for the members.
Examples of projects
Projects successfully completed for HISWA include:
- Two policy decisions of the State Secretary of Finance, laying down the rules that apply for the use of zero-rate VAT on the supply of yachts;
- The Commercial Cruising Vessel (CCV) rules for large yachts;
- 9% VAT for sailing instruction courses% VAT for a mooring at a campsite;
- National rules on wage tax for sailing instructors.
In addition to our specialist area VAT & real property transfer tax, we have also advised HISWA members on a range of tax topics: mostly VAT, but also wage tax, anti-pollution tax, real property tax, tourist tax and betterment tax.