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Ucina, ‘Italy, a break-through in the yachting system’

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Ucina at Boot Dusseldorf

Ucina at Boot DusseldorfUcina Confindustria Nautica held a conference titled “Italy, a break-through in the yachting system” at Boot Dusseldorf on January, 20th, to present the state of art of the Association’s lobbying efforts that go to favour the international promotion and the development of the entire Italian recreational boating sector.

The reformation of the Italian Nautical Code (Codice della Nautica), that UCINA requested moreover to make registering a boat or a yacht in Italy easier and more economically viable. Amongst the most important elements are the removal of limits for registering a yacht on the International Registry, a measure that brings significant fiscal advantages for commercial yachts, and the introduction of new simplified documents for vessels and crews. The new Passenger Yacht Code for passenger vessels that can carry up to 36 passengers is another of the most important news. These vessels will now be considered commercial yachts.

The establishment of the International Chamber of Nautical and Marine Arbitration to represent the interests of all the companies who work in the nautical sector and to help resolve legal and technical problems of all kinds, as long as they regard the sea and seagoing activities. This Chamber will help resolve design, construction and sales contract disputes and disputes on transportation, delivery, mediation and brokerage, docking, rentals, chartering and other nautical services.

The new Circular 6/e from the Italian Tax Authority (Agenzia delle Entrate) on VAT exemptions for vessels sailing on the ‘high seas’. This Circular responds to the requests specifically formulated by UCINA during the Genoa Boat Show and explains that navigation undertaken in international waters can be considered a cruise both if it starts from and arrives in a country other than Italy and if it begins from and ends in the same Italian port. Navigation undertaken to reposition a vessel or for technical reasons such as a transfer without passengers or to arrive at a shipyard for repairs is considered differently.  A statement from the owner as to his or her intent to use a yacht under construction in the high seas is sufficient for a VAT exemption which can also be applied to vessels that are used discontinuously such as yachts that are for sale and that have changed owner or final use. The new Circular also states that in cases where a vessel is in port for over a year the latest form of active use is the form that will be used to calculate VAT.

New rules for bunkering recreational vessels, be they registered in Italy, with or without the EU on the basis of the new Ministerial Directive DM 225/2015, that also explains the rules to follow when provisioning is done by a third party such as a trader.

Confirmation of a 10% VAT rate (touristic VAT) for vessels that dock in Italy up to an year, a measure that was taken after the abolition of the owner’s tax on recreational vessels both for private and for commercial use.

The creation of a flat tax rate of 100,000 Euros per year regardless of income that can be claimed by foreign citizens who chose to establish their fiscal residency in Italy. This tax rate can be used for 15 years.

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