8 May 2012
SOS Yachting offers yacht-specific fiscal services
During the 2012 MYBA Charter Show that took place in Genoa from 30 April - 4 May, SOS Yachting presented its Board of Directors and fiscal services solution designed to assist and manage VAT duties and payments for commercial vessels chartering in Italian waters. SOS Yachting, based in Milan, Italy, was founded by two prominent members of the yachting industry with decades of experience working in marine agency services and charter management, both in Italy and further afield. SOS Yachting’s President, Fulvio Luise, Director of the Luise Group and President of Federagenti in Italy, is joined by Vice President Stefano Tositti, President and CEO of JLT Yacht Agency and BWA Yachting along with Alessandro Mazzoni as Director.
The company and its fiscal services were presented in Genoa in order to provide charter brokers, captains and industry professionals with up-to-date information on recent changes to charter regulations concerning VAT payments in Italy, following clarification from the Italian tax authorities. Backed by the fiscal services team of Ezio Vannucci from Moores Rowland Associati and Carlo Galli from Clifford Chance, SOS Yachting will provide fiscal assistance and management of VAT payments to the Italian tax authorities for those vessels which are foreign flagged and do not have a fiscal position in Italy, which is a necessary condition in order to charter in Italy.
“We founded SOS Yachting on the principles of professionalism and transparency,” commented Fulvio Luise. “We wanted to ensure that SOS’s comprehensive fiscal service solution allows the industry to easily comply with all local tax regulations and pay the duties on their charter.”
Stefano Tositti added: “By providing this fiscal solution for paying VAT on charters in Italy, SOS Yachting hopes to alleviate any confusion and stress that many in the industry feel when trying to navigate Italian fiscal regulations. We hope to become very quickly the strategic partner for VAT assistance to the superyacht industry and we are pleased we are the first company to offer this type of fiscal service to the industry.”
As VAT is an important yet potentially complex issue for the charter industry, SuperyachtNews.com hopes to bring you more detailed coverage in the near future.
SOS Yachting Website
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