SuperyachtNews.com has learned that Italy’s much-maligned Decree Law no. 201, ironically known as the ‘Save Italy’ Decree, could be abolished. In news that will be welcomed by the superyacht industry the ‘the Stability Law 2016’, which entered into force in 2011, has been amended to include a caveat that abolishes the tax on the possession of yachts.
According to a note forwarded to SuperyachtNews.com by Italian fiscal law experts Moores Rowland Partners Yacht Division, the revised Article 1 paragraph 194-bis, which contains the amendment, has been submitted for approval by Italy’s Senate, with a final decision ‘expected for the end of this year’.
In conversation with SuperyachtNews.com, Moores Rowland Partner, Ezio Vannucci, said:
“The law, called 'legge di stabilità 2016’, will enter into force on the 1st January 2016. Consequently, our Parliament - Camera and Senato - should complete the discussion and the approval within the end of 2015.
“The Mooring Tax is currently applied only to ‘Pleasure Yacht’, so I don’t think will be any impact on the Italian Charter market, but I am sure it can help the Yachting industry!”
A brighter outlook ahead for the Italian yachting market?