On April 15, 2021 the Court of Justice of the European Union (‘CJEU’) rendered judgment in The North of England P&I Association Ltd. case (case no. C-786/19). The CJEU ruled that the Member State where seagoing vessels are registered in the ownership register may levy insurance premium tax. According to the CJEU, this is no different if a vessel (temporarily) sails under the flag of another country. This is in accordance with Dutch rules, but deviates from the practice in several other countries. This judgment is not only important for the insurance of seagoing vessels, for which an exemption applies in the Netherlands, but also for the insurance of other vessels (such as inland barges and recreational craft), which are subject, as starting point, to 21% insurance premium tax in the Netherlands.
Source
Latest Posts in "European Union"
- ICS2 Implementation for Northern Ireland: Transition Details and Support for Carriers by HMRC
- EU Court Upholds VAT Exemption for Exported Goods Despite Initial Intra-EU Delivery Intentions
- Consultation on European CBAM rules
- From Accounting Entry to Taxable Event: The Acromet Case and VAT-TP Implications
- DG TAXUD Extends ICS2 Road and Rail Transport Deadline to December 31, 2025
