Greece Tax Agency Issues Circular Clarifying VAT Treatment on Self-Use of Professional Pleasure Boats

The Greek Independent Authority for Public Revenue Feb. 18 posted Circular No. E. 2006, clarifying VAT on the self-use of professional pleasure boats. The circular includes that: 1) the self-use of professional pleasure boats constitutes a taxable supply of services for VAT purposes, regardless of whether VAT was paid or an exemption was granted upon acquisition; 2) self-use without crew is subject to VAT at the standard rate of 24 percent, 3) self-use with a crew, including business use, is subject to the reduced 13 percent VAT rate; 4) the taxable base determined by total relevant costs for self-use, and ...