Higher annual registration duty for pleasure boats of 30 metres or more

Article 33 of the 2018 Finance Act creates article 223 bis of the Customs Code: for pleasure and sports vessels at least 30 metres long with at least 750 kW of propulsion power, the annual registration and navigation duty follows a specific scale from €30,000 to €200,000 depending on length and power. Revenue goes to the Coastal Conservatory and sea rescue bodies. Introduced by amendment in the National Assembly, it accompanies the replacement of the wealth tax (ISF) by the real estate wealth tax (IFI).