TradeOnlyToday.com, covering the daily news for marine industry professionals online, was reporting today that officials in Charleston County, S.C., USA, are looking into lowering the 10.5 percent tax rate for yachts to 6 percent to attract boaters to place their yachts in the area and increase revenue for all marine related businesses, retail and department store outlets as well as F&B service industry.
Now there's a great example of holistic thinking at local government level, clearly understanding the yachting industry's wide-scale economic impact !
And then to know that there's a number of governments worldwide that are still contemplating whether to raise luxury taxes and yacht tax rates at this very moment to increase short-term tax revenues..... Maybe we should invite them for a coffee at Gulf Craft and have an open discussion anytime soon. And those who visited before, know : we have great coffee.
Read more about it online : 514657-south-carolina-county-considers-yacht-tax-break