Revenue focus on tax-evading yachtsmen

YACHT and boat owners who evade value added tax (VAT) on imported crafts are being targeted by the Revenue Commissioners who are hitting vessel owners for thousands of euro.

And tax evaders risk having their boats confiscated for failing to pay tax on new vessels that they have imported. Already this year the Revenue have confiscated a speedboat worth €30,000 in Cork.

Almost 1,300 boats moored at marinas, ports and inlets along the coat have been inspected by a Revenue Commissioner’s team over the last three years resulting in payments of unpaid VAT and penalties of €1.75 million being collected by State.