Greek Ship Owners to Enjoy VAT Exemption in Piraeus Free Zone

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vat

The Story:

COSCO and Trans-it join forces to offer Greek ship owners a unique service.  For spare parts delivered to the Piraeus Free Zone ship owners will no longer be invoiced VAT.  Ship owners must be approved by COSCO to be able to utilize this service but all clients of Trans-it are pre-qualified.

What Happened:

Trans-it AS once again takes the lead, in renewing logistics industry opportunities and has the pleasure to reveal their latest addition.  An integrated process in combination with new legislation makes it possible for ship owners to move ship spares out of Greece without the time consuming and cash flow limitations from earlier days.

Gimme Some Background:

It has always been a pain and an expensive way that spares are procured, stored and connected to ships.  With Trans-it, the challenging processes of the past are no longer applied, offering ship owners significant cash-flow benefit and a simplified process ensure an administrative easy way of handling relevant documentation.  A stock can be kept in the Free Zone as long as necessary without having any implications on the VAT exemption.

Nuts & Bolts:

Trans-it Facts

  • Ship spares logistics provider since 1998.
  • Main office Copenhagen
  • Service more than 3000 vessels.
  • Deliver spares to vessel worldwide.

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Source: Trans-it AS

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