Italy Pronounces on Superyacht VAT

Circolare No 43/E issued on 29 September 2011 in Rome by the Italian governments Agenzia Entrate has been the subject of much scrutiny within the Superyacht World.

But there is little doubt that it represents a rare statement of policy towards yachting by the Italian tax administration.

It comes exactly one year after some unseemly drama at ports and courts over yacht arrests here in Italy.

Since then speculation about Italy as a charter destination or place to berth a yacht has been rife, much of it an attempt to fill the gap in the absence of comprehensive official information.