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An amendment to the Stability Law stops the tax on luxury vessels


marina di Genova aeroportoIn the evening of Tuesday 15th December, after 37 hours of discussion, the Budget Committee of Italy’s Chamber of Deputies completed the voting about the Stability Law, the Italian financial act.
Many and very specific micro-amendment have been presented to the Chamber, among which the request to stop the tax on luxury vessels.
The tax on the possession of yachts, part of the decree Salva-Italia (literally, Save-Italy) put in force by the Government when Mario Monti was in office in December 2011, consisted in a financial contribution which was proportional to the vessel’s dimension and would be paid for yachts from 14 metres in length on.
The Stability Law, which maintained its substantial structure, will be discussed in the Chamber on Thursday together with plenty of amendments suggested and approved by the Budget Committee.
The abolition of the tax on luxury vessels shall be considered, according to the Government, as a measure to save shipyards.
Clara Demaria, president of Ucina, the Italian Nautical Industry Confederation, thus comments upon the approval of such a valuable amendment for shipyards and for the Italian nautical market: “ What happened today is the further proof of the constructive debate among our Association, the political forces and the Government, which comes in a very important time. It will once again enhance trust in the market.”