The term ‘VAT paid status’ is essential for buyers, sellers and owners of luxury assets, such as yachts and private jets, as it ensures free movement within the EU without further VAT consequences. This status implies that the appropriate VAT has been paid to an EU Member State, and can be proven through various documentation. However, the VAT paid and free circulation status are not perpetual and can be forfeited in certain situations, such as when the asset is exported from the EU and re-imported.
Source Zampa Debattista
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