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.
But what about burocracy?
We, at CM-Yachts are established in Italy since long time, dealing with the
relevant offices for the major shipping industry, that means that We apply
the newly introduced rules for charter yachts since 1997 when the same
legislation was firstly introduced for the merchant vessels.
Should You have any need or query about this opportunity, do not hasitate to
contact us and We shall be delighted to serve You at our best.
