Greece: VAT on commercial pleasure vessels based on expiration of licence
VAT must be based on the current market value at the time of the professional licence expiration
The Independent Authority for Public Revenue issued Circular 2035/2025 (dated June 18, 2025), which clarified that without supporting documentation, the value added tax (VAT) for commercial pleasure vessels must be based on the current market value at the time of the professional licence expiration.
This applies when documents like the construction invoice, insurance policy, or a certificate from the Hellenic Chamber of Shipping are unavailable, ensuring VAT obligations are met despite the lack of formal documentation.
For more information, contact a KPMG tax professional in Greece:
Antonia Ariel Manika | amanika@cpalaw.gr