The latest news from around the world on regulatory issues and legislation affecting the boating industry including taxes, trade tariffs, standards and environomental restrictions.
Regulatory Issues and Legislation
Canada passes USMCA trade agreement into law
The Canadian government passed legislation on Friday ratifying the new US-Mexico-Canada Trade Agreement (USMCA) before shutting down until April 20 as a result of the developing Covid-19 coronavirus pandemic.
European Boating Industry welcomes EU Industrial Strategy
European Boating Industry (EBI) has responded to the release yesterday of the European Commission’s flagship Industrial Strategy and SME Strategy, saying that it welcomes their potential to ”support the recreational boating industry in Europe to sustainably grow, create employment and further develop the sector’s global leadership and environmental transition”.
Greece to simplify yacht legislation
Greek yacht legislation is expected to be simplified over the coming month. For now, the main measures include:
NMMA Canada lobbies parliamentarians in bid to head off luxury tax
Representatives from NMMA Canada and regional boating trade associations nationwide descended on the Canadian national capital on Thursday in a coordinated lobbying effort aimed at convincing legislators to rethink a proposed 10% luxury tax on boats of more than $100,000.
Boating community sinks Virginia boat tax
Efforts by the Prince William County, Virginia Board of Supervisors to reinstate a 20-year-old boat tax were dead in the water when more than 100 boat owners and business people voiced opposition at a public hearing Tuesday night.
New rules in Seychelles allows foreigners to own superyachts
The Seychelles government has introduced new policies related to foreign yacht ownership and operation. Under the new rules, according to a Seychelles News Agency report, a foreigner is able to own a yacht if it is over 24m (79ft) in length and valued in excess of $2m.
EU revises financial status of key yachting markets
In financial deliberations of the past few days, the EU has revised the status of two key yachting countries in terms of financial listings. The two states involved are the Cayman Islands and the Marshall Islands, both of which are leading flag registration countries for superyachts.
EU warns Malta over incorrect VAT on yacht leases
The European Commission has sent an additional letter of formal notice to Malta whose authorities it accuses of not levying the correct amount of the value-added tax (VAT) on the lease of yachts. Brussels claims that Valetta failed to properly modify its tax system in response to earlier requests by ...
New York State considers ‘wealth tax’
Face with budget shortfalls and looking to fund an ambitious new program, Democratic lawmakers in New York state are gaining support for tax proposals aimed at its wealthiest residents, which include a rollback of sales tax exemptions on megayachts and private airplanes.
Recreational boating opposes ‘Right to Repair’ legislation
The recreational boating industry has growing concern with a growing trend: so-called ‘Right to Repair’ legislation that requires manufacturers to release software information to allow independent retailers to repair electronic products.
NMMA, Transport Canada reach MOU to streamline boat importation regulations
The National Marine Manufacturers Association (NMMA) has entered into a Memorandum of Understanding (MOU) with the Canadian government which will reduce paperwork for manufacturers exporting boats to Canada.
Industry leaders advance key European objectives
European Boating Industry President Jean-Pierre Goudant outlines the future direction of EBI’s efforts to position the boating sector at the heart of EU policy making. In conversation with IBI Publisher Nick Hopkinson, Goudant passionatly advocates the need to have a ’seat at the table’ to tackle industry’s future challenges.
More Regulatory News
US, China tariff deal helps boating, critics Say “Phase One” agreement too limited
Stricter boat safety laws sought after California dive boat charter fire
Philippines upgrades recreational boat records with new registry
Green light for foreign SY charter in Australia
South Carolina’s new tax policy impacts boaters
New Bill brings Australian foreign-flag charter licence a step closer
USCG Illegal charter crackdown continues
Netherlands steps up Dutch flag marketing
US Senate spending bill includes boating industry priorities
Transport Canada adopts ABYC marine safety standards
Asia-Pacific yachting moves forward on various fronts
International emissions regs could hurt large diesel yachts, jobs
Greek fleet grows under National Strategic Reference Framework
Port of San Diego drafts illegal charter ordinance
Cayman Coast Guard Commandant joins regulatory push
US boating accidents, deaths down in 2018
NZ builders return to amphibious boat market
Pontoon boat accident leads to calls for rental rule review
Trump blinks on new tariff threat
Poland to launch new yacht registration system in 2020
