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
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 ...
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.
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.
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.
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.
The move last week aimed to deescalate the ongoing trade war reduces some US tariffs in exchange for increased Chinese purchases of American farm goods
Members of the California congressional delegation are proposing tougher safety standards for small boats in the wake of a fire aboard a dive boat charter that killed 34 people.
A significant upgrade for the marine leisure sector in the Philippines has been initiated with the launch of a new Registry of Recreational Boats by MARINA (the Philippine Maritime Industry Authority). The new system will reduce the licencing time for such craft from around two years to just five days.
New legislation was passed through the Australian Senate today that enables foreign superyachts to charter in Australian waters. The special recreational vessel legislation will allow superyachts use of a coastal trading temporary licence, allowing commercial charter activities.
Superyacht Australia will be hoping that it will be a case of third time lucky with regards to securing a licence deal that will enable foreign-flagged superyachts to perform charters while in Australia. Over recent years two previous attempts have not made it through the smallest of margins.
The United States Coast Guard’s (USCG) focus on illegal charter operations continues in full force with the latest unlawful operator nabbed in Key West, Florida, just off the community’s legendary Mallory Square. The operator faces fines on up to US$39,936.