INWARD PROCESSING is a regime which permits the vessels under temporary admission to do repairs and maintenance without paying 21% VAT.
During the period the yacht is under temporary admission she can receive goods or spare parts from non EU countries to be incorporated on board without paying duties or VAT in the EU when embarking the goods.
Lantimar Yachting and Lantimar Customs & Logistics, officially authorised Economic Operators, are allowed to perform and manage refits in TPA regime both in Palma and Barcelona. The two companies, working side by side and sharing know-how and experience at an international level, guarantee an efficient and smooth Inward Processing management.
Just make sure you comply with the following:
NON EU FLAG
NON EU OWNER or OWNING COMPANY
YACHT UNDER TEMPORARY IMPORTATION
Then it’s all done and you HAVE SAVED A FORTUNE!