Catalano Shipping Services launches “LogNav”, a vessel’s automated digital portal for fiscal and tax needs.
Catalano Shipping Services, the Monaco established yacht agency, unveils the first automated algorithm that calculates the tax rules for navigations in European waters for commercial yachts. The digital portal addresses two crucial stakes: the calculation of the 70% rule (commercial exemption) and the pro rata of due VAT on charters, for France and Italy.
The regulations regarding these two subjects have been changing in the last few years, making their management much more complicated. Fiscal representatives are adapting but are mostly dependent on afterwards human processing and calculations.
Catalano Shipping Services, in the continuity of its digital evolution, has decided to create 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 various parameters.
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