Italy drops VAT at marina resorts (July 16, 2014)

Italy’s marine trade association UCINA has announced that marina resorts in the regions of Emilia Romagna and Liguria are reducing the relevant Value Added Tax from the standard 22% to 10%. The news follows on from Friuli Venezia Giulia, where the implemental regulations for marina resorts have already been adopted.
In Italy, all hospitality businesses, regardless of the kind of hospitality offered, benefit from this reduction. However, until today only stopovers and stays of yachtsmen onboard their yachts were excluded.
The plan to establish marina resorts within ports is meant to fill this void in particular. Moreover, the resorts will be able to benefit from a Value Added Tax applied to tourist-related businesses (10%).
A survey run by UCINA’s National Nautical Observatory shows that the tax revenue from a stopover in these facilities in Italy would be six times greater than the lesser VAT proceeds.
UCINA began discussing the issue years ago with national and local government institutions. The result is that marina resorts have been established in Friuli V. G., soon to be followed by Liguria and Emilia Romagna. In particular, the new regulations will probably be applied as early as August in the central Adriatic coast.
Massimo Perotti, president of UCINA, comments: “I am pleased that UCINA’s commitment to support boat tourism in Italy has produced another important result to the benefit of the boat industry and tourism on a national level. Making stopovers more convenient in Italian marinas means a greater number of boats using related facilities and of people who can enjoy the wonders of Italy’s coasts at competitive prices in the Mediterranean.”
In addition, a bill regarding this subject has been presented to the Chamber of Deputies. The future law will provide official acknowledgment of these resorts throughout Italy.
These novel politics have been enhanced by other initiatives carried out by UCINA to make stopovers and stays at resorts more convenient in Italy.
The procedures regarding arrival and departure at each port have been abolished (now limited to only the first and last) and non-EU yachts can now go through customs procedures while in Italian waters without having to enter the yacht in the national registers. Sailing under the Italian flag will also become more advantageous, with the option of the “occasional lease”, meaning chartering without having to register the yacht as a commercial lease.
Boat leasing in Italy has increased in 2014 on account of the reduction and in some cases the abolition of the relevant property tax (abolished for up to 14m and reduced by 50% up for up to 20m).

This entry was posted in Press. Bookmark the permalink.