Tax Burden on Professional Yachting in Greece and other European Countries

Abstract

This paper examines the tax approach of yachting in Greece and in other European countries such as the Netherlands and the United Kingdom, which have a long tradition in this field, as well as Croatia and Slovenia which are neighbouring and competitive countries towards Greece. According to recent surveys there have been indications that there has been a decline in yachting development in recent years, which is in sharp contrast to the comparative benefits that Greece has in this field.

With this in mind there has been a survey carried out to show whether the prevailing situation is the result not only of the financial crisis but also of the taxes imposed by the state. The results of the survey have come about by studying and comparing the tax approach of the countries mentioned above, along with an example of the main tax costs in each country as compared with the Greek taxation taking into consideration Professional yachting.

A general result is that Professional yachting has not been affected to such a degree by high taxation, but by the complexity that governs it along with the fact that the laws which have already been passed are not implemented.