Our specialist in-house tax advisors provide our clients with independent, indemnified VAT and tax advice. In Brief our services include:
- formal tax opinions which offer practical advice on implementation as well as the comfort needed to underpin any planned importation.
- tax opinions for VAT in the EU as well as some other non-EU jurisdictions where VAT/GST or sales tax is applied
- advice on customs duty issues including the practicalities of importation and mitigation of customs duty
- cash-flow efficiency through careful and timely advice
- contract and ownership review service to ensure our clients are fully compliant with EU VAT and customs laws
- detailed reviews of any existing ownership arrangements and the EU tax status of any target aircraft
Why do you need tax advice?
Benjamin Franklin said that "nothing is certain in life except death and taxes". Sadly we can't offer any ways to avoid the former, but we can help you navigate your way through the complex world of EU Value Added Tax (VAT) and customs duties.
The EU comprises 28 Member States with three distinct territories for fiscal (VAT), excise and customs controls. Aircraft that fly into, out of, or between EU Member States are subject to the interrelating cross border obligations of import VAT, import procedures, customs duties and export regimes. Equally, aircraft that operate within the EU, or that are bought and sold within the EU, are liable to a mixture of domestic VAT regimes.
Although the EU VAT and customs duty requirements are derived from centralised EU regulations and directives, in practice the interpretation and implementation of these can vary significantly between Member States, so understanding the relevant legislation and its practical implications can be a complex process. Failure to comply can be an expensive business when dealing with high value assets such as aircraft. So whether your aircraft is for private use, hire, charter or corporate business use, achieving a tax efficient solution requires that ownership, registration, paperwork, aircraft history and usage are EU compliant.
Starting with tax planning, Martyn Fiddler Aviation can provide a timely, practical and joined up approach to assist you. We have a wealth of experience in dealing with revenue and customs officials in the EU and are practised in finding practical and realistic business friendly solutions for customs and VAT issues – whether your aircraft is arriving into the EU for the first time or you are looking to transact aircraft business within the EU.
And while our expert team's many years' experience allows us to advise on the optimum ownership and import regimes for any planned purchase and operation of a target aircraft in the EU, we can also offer a review service for existing ownership arrangements and aircraft to understand whether there is any call for change – confirmation that everything is in order may actually mitigate one of Benjamin Franklin's certainties... at least for the present!