Your Content Here. Session One Welcome Address. Rob Marchant PwC. Will Mathieson The Superyacht Group. Martin Redmayne The Superyacht Group

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1 Session One Welcome Address Rob Marchant PwC Your Content Here Will Mathieson The Superyacht Group Martin Redmayne The Superyacht Group SPONSORED BY: L A N T I M A R Y A C H T I N G

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16 Mini One Stop Shop (MOSS) Basic information Session One Mini One Stop Shop (MOSS) A single return and payment system for cross-border business to consumer supplies following the 2015 changes. Designed to prevent a business having to maintain VAT registrations in multiple countries where it has no business establishment. Rob Marchant PwC SPONSORED BY: Optional; however once opted in bound to report all supplies of relevant services through MOSS in all Member States where that business has no establishment. L A N T I M A R Y A C H T I N G

17 Background to MOSS Why was it introduced? Session One Mini One Stop Shop (MOSS) VAT is a tax on end consumers, therefore considered fairer to tax in the place where consumption takes place 1 st January 2015 change to the way that VAT is paid on certain digital services sold to consumers (not businesses) Rob Marchant PwC MOSS seeks to: Simplify the VAT compliance system for suppliers Prevent VAT rate shopping Act as a platform for future broader One-Stop-Shop arrangements SPONSORED BY: L A N T I M A R Y A C H T I N G

18 To MOSS or not to MOSS Key considerations when opting for MOSS Session One Mini One Stop Shop (MOSS) Administration. Single VAT registration and one VAT return per quarter. Payment. Singe payment of VAT that the tax authorities distribute. Compliance. Single set of rules regarding filing deadlines. Rob Marchant PwC Input VAT recovery. Can t be done via MOSS (yet) Record Retention Period years. SPONSORED BY: L A N T I M A R Y A C H T I N G

19 To MOSS or not to MOSS Key considerations when opting for MOSS Session One Mini One Stop Shop (MOSS) Potentially the future for all taxpayers. Has been implemented for digital services and the European Commission has indicated a willingness to look at other sectors. Offers a simplified VAT registration and payment model so potentially aids the yacht sector. Rob Marchant PwC But what do we want it to look like? Why just yachts? All forms of private means of transport? (Note that the transport of passengers is different). SPONSORED BY: L A N T I M A R Y A C H T I N G

20 Coffee Break Your Content Here SPONSORED BY: L A N T I M A R Y A C H T I N G

21 Think Tank: Session I Commercially operated yachts John Leonida, Clyde & Co Ayuk Ntuiabane, Equoim Solutions 2. EU-owned private yachts that occasionally charter Miguel Angel Serra, Garrigues & ANEN Janet Xanthopoulos, Rosemont Yacht Services & SYBAs Patrick Bachofner, IRI Corporate and Maritime Services 3. Yachts that could qualify for temporary admission but with to charter occasionally Alex Chumillas, Tax Marine Freddy Desplanques, Ince & Co 4. Possibility of a one-stop shop for future VAT Rob Marchant, PwC Will Mathieson, The Superyacht Group Martin Redmayne, The Superyacht Group SPONSORED BY: L A N T I M A R Y A C H T I N G

22 Lunch Break Your Content Here SPONSORED BY: L A N T I M A R Y A C H T I N G

23 Think Tank: Session II Address how the aforementioned issues will affect owners, captains, shipyards, suppliers and other key players involved in the current fiscal legislation 1. Commercially operated yachts John Leonida, Clyde & Co Ayuk Ntuiabane, Equoim Solutions 2. EU-owned private yachts that occasionally charter Miguel Angel Serra, Garrigues & ANEN Janet Xanthopoulos, Rosemont Yacht Services & SYBAs Patrick Bachofner, IRI Corporate and Maritime Services 3. Yachts that could qualify for temporary admission but with to charter occasionally Alex Chumillas, Tax Marine Freddy Desplanques, Ince & Co 4. Possibility of a one-stop shop for future VAT Rob Marchant, PwC Will Mathieson, The Superyacht Group Martin Redmayne, The Superyacht Group SPONSORED BY: L A N T I M A R Y A C H T I N G

24 Tea Break Your Content Here SPONSORED BY: L A N T I M A R Y A C H T I N G

25 Closing Session White Paper Formulation Rob Marchant PwC Your Content Here Will Mathieson The Superyacht Group Martin Redmayne The Superyacht Group SPONSORED BY: L A N T I M A R Y A C H T I N G

26 Networking drinks Social Dinner La Salière 28 Quai Jean-Charles Rei Your Content Here For directions please ask a member of the staff. Thank you! SPONSORED BY: L A N T I M A R Y A C H T I N G