Greek Government Withdraw Yacht Tax

Created by doina. Last modified on 2006-02-07 11:31:12
Topic: Cruising Information
Countries: Greece

Following the misunderstandings raised by the recent guidelines concerning the payment of sailboat taxes, the Greek Financial Ministry, included in the new Law N. 3427/2005 article 35, effective from 1st January 2006, a very definite clarification, according to which NO TAXES are imposed on foreign boat owners. It is expressly clarified that foreigners with a permanent or temporary mooring in Greece are excluded from any income tax due to the possession of their boat.

This relates to an earlier news item on Noonsite (October 2005) reporting that non-EU residents using a private yacht in Greece would have to file an Income Tax Return in Greece and declare the imputed income of the boat. This affected only those non-EU yachts based in Greece and chartering, not private yachts under a foreign flag sailing temporarily in Greek territorial waters for tourism.

Thanks to K&G Med. Marinas Management for sending Noonsite this information.