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Fraser Yachts: Mediterranean Stronger this Year than Last Year

Yacht charter demand is being driven by clients in North and South America, the company says

Fraser Yachts Worldwide is reporting more summer bookings for Mediterranean yacht charters than at the same time during 2012. The demand, Fraser says, is being driven by clients in North and South America.

Fraser also appears to be more certain that charter clients should prepare for a new VAT charge on yacht-charter rates in France this summer. Authorities have said that this tax could add as much as 20 percent to existing charter rates. The European Commission and French authorities are currently negotiating what rate will be allowed.

Previously, companies were hedging on whether the tax would be applied for summer 2013 at all, but as of February, Fraser Yachts was telling its clients that “it looks like the French will not charge VAT on the charters booked before the new regulations come in place.” Fraser is continuing that line this month, stating, “It is expected that the country will have to introduce VAT on charter this year due to mounting pressure from the EU. There is speculation that the new VAT will not be applied on charters that have been booked before the new VAT regulations come into effect.”

The upshot of both messages from the past few months is the same: Book now for summer charters in the South of France, and your contract-signing date should protect you against any new VAT that is imposed in the upcoming months, no matter what percentage it is.

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