Fraser Yachts Summary - Film Festivals and Formula 1

    ST. TROPEZ, FRANCE, June 03, 2011 /24-7PressRelease/ -- Last weekend saw the return of motor racing to the streets of Monte Carlo and La Condamine for what is undoubtedly the sport's most prestigious and famous event, the F1 Monaco Grand Prix. This year, Fraser Yachts secured several trackside charter yachts for clients wishing to get close to the action as well as several other anchors within the bay.

Following hot on the heels of the Cannes Film Festival, which drew to a close last Sunday, the weekend of the Monaco Grand Prix is widely regarded as the start of the Mediterranean yacht charter season and having experienced a flurry of luxury yacht charter bookings over the last month Fraser Yachts are encouraged and confident that enquiries will continue to grow.

A number of vessels from Fraser Yachts' charter fleet were recently on show at MYBA Yacht Show, which recently took place in Genoa between the 4th and 6th of May. The event is a closed, industry only show, which gives brokers the opportunity to inspect yachts and assess the quality of their design, condition, equipment and crew.

This year's event saw Genoa's Porto Antico play host to the largest collection of charter yachts ever seen in the Mediterranean and saw the launch of Fraser Yacht's new Diamond Collection , the concept of which is to introduce a set of quality standards that are intended to perform a similar function to that provided by the Michelin Star system for the restaurant industry.

Yacht owners meanwhile should be paying close attention to changes in tax laws that may have a profound effect on the industry. 2010 saw several Italian owned yachts detained by the authorities as a result of accusations of unpaid VAT. The yachts have subsequently been released and it has been revealed that there has been confusion within the authorities themselves as to how the relevant laws should have been applied.

This year, however, there are continuing fears regarding changes to the VAT regulations in France. As far as we are currently aware, these will not be in force in time for the summer season, however we are advising our French clients to keep in close contact with our yacht management team regarding future changes to VAT regulations.

Fraser Yachts is a full service yachting company offering super yacht charter and mega yacht charter, luxury yacht sales and construction, as well as yacht management and crew-placement services. For further information regarding any of these three exclusive luxury yachts, please visit the Fraser Yachts website at www.fraseryachts.com.

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