NBAA Tax, Regulatory and Risk Management Conference starts the Sunday BEFORE NBAA Convention

admin — Sat, 03 Aug 2013 00:37:17 +0000

If you will be attending the NBAA’s annual convention this year in Las Vegas, be sure to attend the Annual NBAA Tax, Regulatory and Risk Management Conference. The conference is an in depth review of the major issues facing aircraft owners and operators. Why can’t Part 91 operators operate in a single purpose entity? How can the IRS take the position that even Part 91 management agreements are subject to FET? What’s the difference between personal business use and personal entertainment use of business aircraft and why does it matter? How are companies addressing EU VAT issues in light of the elimination of the UK zero rated import? These issues and many others of interest and concern are addressed at the conference. I’ll be moderating the international panel and addressing EU-ETS, alternative solutions to the VAT issue, and others.

Click here for the brochure, and remember, if you are making your reservations, be sure to block out the 2 days before the convention (October 20 and 21) for the NBAA Tax Conference.

I look forward to seeing you there.

Regards. SHL.

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Flying to or Within the EU? There Still May be Ways to Address VAT.

admin — Mon, 13 May 2013 18:11:50 +0000

U.S. registered aircraft operating within the UK or the EU are subject to being assessed a value added tax of up to 26% of the value of the aircraft. This is generally due to the fact that the UK/EU view typical Part 91 operations as “commercial” under their rules. While, in the good ‘ole days, large jets could be imported at a zero rate of VAT through the UK for free circulation, under pressure from the EU, the UK eliminated that process of import.

Can a permanent import for free circulation still be accomplished on a U.S. registered aircraft? The answer, as usual, is “it depends.” One alternative involves an import into Denmark. Other alternatives involve establishing a connection with a tax-neutral jurisdiction such as the Isle of Man. It is much more difficult, however, to plan for the import after the aircraft is acquired into its U.S. tax-focused structure, since many of the requirements of the import involve interrelationships with the jurisdiction. So, as always, plan ahead if you think that the aircraft will be spending time in the EU or the UK. We have had the opportunity to assist clients with coordination of these imports, including being in attendance with the aircraft overseas for the import, and look forward to being of service. We will be in attendance at the ICM Aviation Conference on the Isle of Man in June and look forward to seeing you there.

The post Flying to or Within the EU? There Still May be Ways to Address VAT. first appeared on SEONewsWire.net.

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NBAA Tax, Regulatory and Risk Management Conference starts the Sunday BEFORE NBAA Convention

Flying to or Within the EU? There Still May be Ways to Address VAT.