The regulations recently adopted, matching the requirements issued by the British MCA, give a strong challenging appeal to flying the Italian flag.
Let us give You a short highlight on the requirements and benefits granted
by the new legislation.
It is addressed to Yachts to be used in international navigation for tourist
charter purpose with the following characteristics:
REQUIREMENTS:
A) LOA over 24 metres
B) Gross tonnage within 1000 metric tons.
C) Capacity up to 12 guests (plus crew)
D) Class certification issued by an internationally recognized Class
institute
E) Compliance to the technical regulations (which match, as said, the MCA
requirements)
TAX BENEFITS:
- All transactions related to the yacht are VAT exempted.
(thus meaning i.e. that any buysell/chartering of yachts, bunkers, spares,
catering, refitting etc. are VAT exempted)
- The cost of a European crew member is net of any taxes or social
contributions due either by the employer and/or the employee.
- The company chartering the yacht is taxed on the 20% (twenty per cent) of
the taxable amount including eventual capital gains on disposals ( and a
special tailored made tax planning can further reduce the tax burden)
As You can see flying the Italian Flag can be very attractive for many
Super Yacht Owners. The big problem is that to obtain all these advantages
You have to walk through all the bureaucratic procedures; it can be quite
hard and take a lot of time especially for those who don’t work stably in
Italy.
This is why CM-Yachts offers You its assistance for every registration issue
in Italy. We can face all the matters for Your customers within few time and
very low costs. Feel free to contact whenever You need our support.
