Fiji records strong growth in superyacht visits
Published: Friday, 23 March 2018
The 2017 Fiji yachting season is recorded with 65 superyacht visits to the country, a 20 per cent increase on the previous year. Tributes are paid to government’s recognition of the industry.
(Photo: Port Denarau)
A reduction of the ‘Superyacht Charter Tax’ from 12.5 per cent to 10 per cent was demonstrated in the 2017 budget. No longer called a superyacht tax, superyachts are now charged an Environment and Climate Adaption Levy of 10 per cent on the stated gross charter fee as disclosed on the charter contract.
This is a transparent fund set by the Fiji government to engage in projects that counter the climate change effects in the country, which is hoped to improve levy acceptability given a good cause.
Another good news – the Marine Safety Authority of Fiji (MSAF) will now issue a Coastal Trading Permit that covers six months and multiple charters to replace the old per-charter system. Cost is still US$1500 (FJ$3220) and the permit can be renewed multiple times for a maximum stay of 18 months.
Port Denarau Marina was busy with superyachts still booked through Christmas. The marina board is engaging in further expansion projects, including dredging work that will make way for a further five 70m berths.