Tax and Customs Administration tracks down international VAT constructions with luxury yachts

In an international investigation, the Tax and Customs Administration has tracked down VAT constructions with luxury yachts for almost 90 million euros.

Jointly with nine other EU countries, 150 luxury ships were inspected in various ports in the Mediterranean. The Dutch tax authorities have imposed additional tax assessments to the amount of almost 20 million euros. It is expected that this sum will increase further in the next few months.

State Secretary Weekers of Finance: 'The Tax and Customs Administration continues to check constructions with which people try to dodge taxes. It cannot be tolerated that luxury yachts are used for private purposes without VAT being paid.'

Under the direction of the Netherlands and France, 43 luxury ships were investigated in further detail. Up to now, VAT constructions were found for sixteen ships. During their inspection, the investigators checked whether the recreational crafts were indeed used for business so that less VAT was due, or that these yachts were mainly used for private purposes. The Netherlands has imposed additional tax assessments to the amount of 20 million euros. The other countries have imposed the remaining 70 million euros.

During an earlier investigation, which was completed in 2008, fines and additional tax assessments were imposed to the amount of 31 million euros. The current investigation was started in 2009 by ten countries and with yachts with a value of more than 25 million euros.