EASY FISCAL CRUISING
LogNav is an advanced digital portal to monitor tax and fiscal obligations for commercial yachts in western Mediterranean waters
LogNav is an exclusive web interface which was conceived to facilitate the monitoring and management of Commercial yachts, regarding some of their most demanding tax and
fiscal obligations and stakes.
The digital portal addresses two crucial subjects: the calculation of the 70% rule (commercial exemption) and the pro rata of due VAT on charters, for France and Italy.
The regulations regarding the above mentioned have changed in the past few years, making their management more intricate. Vessels and their fiscal representatives are adapting but are mostly dependent on post-cruising human processing and calculations.
What is the “70% rule”?
A commercial yacht willing to operate with the tax exemption scheme in France and Italy must comply with five criteria allowing to edit and sign Commercial Activity Certificates. The trickiest criteria to be respected and proven is that the vessel must have left territorial waters (respectively French or Italian) for at least 70% of the trips carried out during the previous year.
LogNav comes into play
It offers an automated interface and calculation system, based on the AIS data of the boat combined with a multi-layer algorithm which integrates all tax rules and related parameters.
Being parametric and dynamic, it automatically enriches raw AIS data with information related to a vessel’s geo location and its navigation events. The system calculates and demonstrates the expected features such as the proper taxable base for the VAT on charter fees or any data related to the compliance with the commercial exemption rules.
LogNav displays in real-time the necessary gauges, graphics and tables allowing you to keep track and even to foresee the yacht’s stance. It allows you to generate immediately the required reports, which can be downloaded in PDF or CSV formats.
A certified system:
LogNav is exclusive and has been certified with the “DATA INTEGRITY” label by Bureau Veritas.
This certification attests the accuracy and reliability of:
- The proper functioning of the algorithm according to the criteria
- The data protection scheme and GDPR compliance
LogNav has been conceived adhering to industry and regulatory best practices for IT security.
Naturally, the parameters of the system have also been apprehended in conjunction with the advisory of recognised law firms specialising in the maritime industry, in France and in Italy.
The reports and displays allowed by LogNav are therefore ensuring the utmost reliability and compliance with these countries’ regulatory environment.
The same stakes are concerning cargo ships and boats on leasing and for that matter dedicated variations of the interface (Lognav Shipping and Lognav Leasing) are also available, for the operational benefit of shipping companies and banks.
The LognNav tools and interfaces have already proven their efficiency in 2022 for a large number of vessels and promise to bring peace of mind to many more in 2023.
Words from a 100 + meters yacht’s purser: “It takes the guesswork and complications out of this necessary process for a commercial vessel. It is one of those tools that once you have used you wonder how you survived without it.”
For more details Tel: +377 93 50 86 86 or visit www.lognav.co