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Italy, A breakthrough in the yachting system

23 January 2018

The Italian Marine Industry Association Ucina Confindustria Nautica held yesterday, 20th of January, at Boot Dusseldorf a conference titled "Italy, a break-trough in the yachting system" 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.

In addition the guidebook “Italy, Tax &Yachting” has been published to explain the new measures both in Italian and EU regulations and it has been edited by UCINA in collaboration with the Italian Tax Authority. The book collects all the news and the provisions of the law intervened in tax, customs and other obligations regarding recreational and commercial crafts within Italian national waters.

The international distribution of the “Italy, Tax & Yachting” book will be in collaboration with ItalianYachtMasters, the Italian Superyacht Captains and naval officers association, that is an UCINA associate and the Ambassador of the Italian maritime excellence and professional quality abroad.

Other succesful actions promoted by Ucina in cooperation with the Italian goverment, have been hightlighted during the conference, such as:

· the new Italian Nautical Code (Codice della Nautica) released last November that includes simplified rules and regulations
· VAT exemptions applied to commercial shipping
· Regulations for the application of a 10% VAT rate on yachts that dock on the Italian waters for up to one year.
· a flat tax rate, introduced by the Italian Government, for foreigners who become Italian fiscal residents
· the new International Chamber of Maritime Arbitration

All these above measures make Italy more competitive than other Mediterranean and European countries.

These countries are taking measures that make deep negative effects on recreational boating. While, in fact, Croatia have raised up to eight times the entry fee tax, French tax law penalises crews and owners and Spain levies a corporate tax on charters, the Italian tax reforms mentioned above, supported by Ucina, make the 'Bel Paese' an even more attractive and economically competitive destination for the international yachting community.