Simplification of duty-free rules helps Martinique’s yachting industry

The Martinique Yachting Association (MYA) has announced its crucial role in getting the island of Martinique in line with the rest of the Caribbean with regards to duty-free practices.

Following their efforts, the Martinique government has agreed the first step to simplifying its existing rules for the repair and maintenance of visiting yachts. The below rules will be affected.

  • Duty called "octroi de mer”, which is on all materials.
  • Duty called “Customs charge”, which is due on all materials imported from a non-European community country (ex. USA, Canada, Latin America).
  • VAT, which at the time of sale is 8.5% on materials, labor and services. 

With these new procedures, Martinique will be well positioned to offer its technical skills to the international yachting community. This, along with the recent €18 million investment in a high-class dry-dock and two new travel lifts of 80 and 440 tons, puts Le Marin in a strong competitive position, according to the MYA.

Not content with these changes, the MYA management team is also working closely with French professional organisations and local politicians on Martinique to change the law for VAT on yacht charters to further increase Martinique’s appeal.

For more information contact Douglas Rapier, president of the MYA

 


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