Forums39
Topics38,687
Posts312,726
Members26,570
|
Most Online2,218 Jan 21st, 2020
|
|
29 registered members (marisol, dfmsml, TravelHat, GeorgeC1, NumberCruncher, hokiesailor, MrEZgoin, StMartinFan, George1234, TomGarvey, YachtReprise, nevar37, John, MACC60, OceanSong, Kennys, onlymedication, wct49, bbeach, Flotsam, xrayman67, Scubacat, RichiT, 6 invisible),
1,237
guests, and 112
spiders. |
Key:
Admin,
Global Mod,
Mod
|
|
|
Re: Import tax question
[Re: GeorgeC1]
#234872
09/18/2020 10:30 AM
09/18/2020 10:30 AM
|
Joined: Oct 2004
Posts: 1,953 St. John, USVI
RickG
Traveler
|
Traveler
Joined: Oct 2004
Posts: 1,953
St. John, USVI
|
We bought a boat in the BVIs and moved it to the USVIs and sailed Puerto Rico. The issue never came up. I'd ask your accountant to research.
Cheers, RickG
S/V Echoes, 2003 Beneteau 423 Grenada
|
|
|
Re: Import tax question
[Re: GeorgeC1]
#234875
09/18/2020 11:26 AM
09/18/2020 11:26 AM
|
Joined: Apr 2002
Posts: 7,054 GA/NC
GeorgeC1
OP
Traveler
|
OP
Traveler
Joined: Apr 2002
Posts: 7,054
GA/NC
|
Well I am my accountant and I asked myself but did not know. I might have to fire myself! A call to customs resulted in a yes the import duty would be due but he waffled. Then he started asking my name and boat name! The Moorings seems to believe the tax would be due and has not opened a USVI base as a result. Not sure if that’s the true reason as they could stock the base with non US flagged vessels. G
Last edited by GeorgeC1; 09/18/2020 11:26 AM.
|
|
|
Re: Import tax question
[Re: GeorgeC1]
#234882
09/18/2020 12:03 PM
09/18/2020 12:03 PM
|
Joined: Sep 2010
Posts: 5,720 Massachusetts
maytrix
Traveler
|
Traveler
Joined: Sep 2010
Posts: 5,720
Massachusetts
|
As I understand it, if it is the same as bringing a boat into the US, you have a certain amount of time it can be brought in before you need to import it.
Matt
|
|
|
Re: Import tax question
[Re: GeorgeC1]
#234913
09/18/2020 04:53 PM
09/18/2020 04:53 PM
|
Joined: Oct 2001
Posts: 1,901 Maine
Breeze
Traveler
|
Traveler
Joined: Oct 2001
Posts: 1,901
Maine
|
That is the kind of question no one wants to answer ( off the cuff) because 1 if they are wrong it can kill their professional business, and 2 asking means you have a significant vulnerability and you would be a client if someone could nail you down ( and you don't want to be a billable client.) We really do understand you don't want to give USCBP any reason to stop or search your vessel, nor any hint that your paperwork is Out Of Order.
I really think you need to pay up for a professional answer and quit looking under the bleachers. Just MHO. Half a million in boat bucks is not a dingy.
Last edited by Breeze; 09/18/2020 05:03 PM.
|
|
|
Re: Import tax question
[Re: GeorgeC1]
#234928
09/18/2020 07:07 PM
09/18/2020 07:07 PM
|
Joined: Jul 2008
Posts: 3,003
sail445
Traveler
|
Traveler
Joined: Jul 2008
Posts: 3,003
|
The problem is I have reached out to professionals and no one really has a answer. As one person told me it’s a very gray area. I suspect by the letter of the law the tax is due if a US flagged vessel enters US waters. The reality is that customs appears not to track it. If I bring my current boat to the USVI I guess I Will just pay the tax. It will make the boat easier to sell when the time comes. G So Stick to what you think is the reality and believe like you mention “Customs appears not to be tracking”. A few years from now the IRS will hit you with penalties and compound interest which will probably open your eyes. People on this forum have given you the answers previously.
|
|
|
|