Duty on US built yachts in the EU suspended

The duties on US-built yachts have been suspended by the EU Commission until the end of December 2023.

There was a 25% duty ad valorem applicable to yachts built in the US since June 2018. However, these duties have been suspended by the EU from January this year until the December 31st, 2023.

New US-built yachts or yachts that have never been formally imported to Europe before, will be able to be imported into the EU this year without needing to pay the 25% duty.

However, yachts imported in the EU prior to June 22nd, 2018 and are still under the same ownership, must have carried out at least one charter (anywhere in the world) under commercial registration prior to the end of the year 2021. Otherwise, they will not qualify for the commercial exemption in 2022.