Basis for VAT on import
Basis for VAT on import across every register we track for yachts.
What is meant by basis for VAT on import?
The value on which import VAT is calculated, and the moment at which the liability arises.
Why does basis for VAT on import matter when choosing a register?
Two jurisdictions with the same headline rate can produce different bills if they tax a different base, so the basis matters as much as the percentage.
Every register for yachts, side by side
Where a register has not published an answer, none is shown, and where the only figure available is an estimate, it is labeled as one.
| Register | Answer |
|---|---|
| British Virgin IslandsVirgin Islands Shipping Registry | Duty is a percentage of the open-market value including cost, insurance and freight (CIF) at import; a temporary basis excluding freight and insurance (FOB) ran 1 May to 31 July 2026 and has lapsed.Customs Management and Duties Act, 2010 (No. 6 of 2010) - Virgin Islands, published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · Schedule 7, para. 1Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Cayman IslandsCayman Islands Shipping Registry | Vessels over 18 feet pay 12% import duty on cost, insurance and freight (CIF) value; boats up to 18 feet are duty free.Import Regulations, Customs & Border Control, Cayman Islands Government (gov.ky)gov.kyRetrieved 2026-08-14Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| GibraltarGibraltar Yacht Registry | Transaction Tax on imports is charged on customs value plus duties, transport and insurance.Treaty on Gibraltar and the European Union Act 2026 (Act No. 2026-11), consolidated text at the current version 15/07/2026 (amendments listed to LN. 2026/204), gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · s. 98(1)Retrieved 2026-08-29Effective 2026-07-15Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Isle of ManIsle of Man Ship Registry | Import VAT is charged under UK rules because the Isle of Man and the UK are one territory for VAT, customs and most excise duties.Final Expenditure Revenue Sharing Arrangements (FERSA), Isle of Man Government, The Treasurywww.gov.imRetrieved 2026-09-01Effective 2025-04-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| JerseyJersey Ship Registry | Import GST is collected as a customs duty and due within 3 days of arrival.GST Direction 2026/03: Relief from GST for imported goods, effective 11 May 2026, Comptroller of Revenue, Revenue Jersey (Government of Jersey)www.gov.je · GST Direction 2026/03, quoting art. 67(2) GST (Jersey) Law 2007Retrieved 2026-08-12Effective 2026-05-11Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| MadeiraMadeira International Shipping Register (MAR) | Import VAT is charged on the customs value, plus duties and accessory costs to the first destination.Código do IVA, artigo 17.º (Valor tributável nas importações), Autoridade Tributária e Aduaneira, info.portaldasfinancas.gov.ptinfo.portaldasfinancas.gov.pt · art. 17.º(1)Retrieved 2026-08-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| MaltaMalta Ship Register | Import VAT is 18% of the customs value, payable by the importer.Value Added Tax Act (Cap. 406, Laws of Malta), consolidated text at point in time 27/03/2026, legislation.mt (Office of the State Advocate)legislation.mt · art. 19(4)Retrieved 2026-08-14Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Marshall IslandsMarshall Islands Maritime Registry | In the Marshall Islands the importer pays consumption tax on customs value plus insurance, freight and duties; EU import VAT is built the same way.Consumption Tax Act 2025, 48 MIRC Chapter 9 (P.L. 2025-47), commencement 7 October 2025, Nitijela of the Republic of the Marshall Islands, as published at rmiparliament.orgrmiparliament.org · §908(3)Retrieved 2026-08-18Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| PanamaPanama Ship Registry | Tax is charged on the CIF value (cost, insurance and freight) plus all customs duties and charges on the import.Ley 6 de 2 de febrero de 2005, que implementa un programa de equidad fiscal (Gaceta Oficial No. 25232 de 3 de febrero de 2005), LEGISPAN scan of the printed Gaceta published by the Asamblea Nacional de Panamás3-legispan.asamblea.gob.pa · Código Fiscal art. 1057-V, Parágrafo 5(d)Retrieved 2026-09-06Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| St Vincent and the GrenadinesSt Vincent and the Grenadines Maritime Administration | Import VAT applies to customs value plus freight, insurance and duty, and yachts carry 20 percent import duty.Value Added Tax Act No. 25 of 2006, Saint Vincent and the Grenadines (Government Printer, Campden Park), read from the Organization of American States Departamento de Derecho Internacional repositorywww.oas.org · s. 26(1)(a)Retrieved 2026-08-27Effective 2023-01-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| United KingdomUK Ship Register | Import VAT is 20 percent on customs value plus duties, transport and insurance to the first UK destination.Value Added Tax Act 1994 (c. 23), latest available revised text - legislation.gov.uk (The National Archives)www.legislation.gov.uk · s. 21(1)–(2)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
Where to go next
This item is one of many that bear on the choice. Set it beside the rest before you choose a register, and tell us if a register you need is not covered yet.