Thanks to a law passed by the Italian legislature at the end of 2014, yachts entering Italian waters during the coming year will see a significant reduction in the country’s marina tax. The new law will see the country’s tax charged to foreigners brought into line with it into line with similar tourism sectors throughout the world.
Gazzette Ufficiale, the Italian government’s official publication, noted that the newly enacted law now reduces duties on temporary berthing and mooring in Italian waters from 22% to 10%. The high duty rate had been heavily criticized by the Italian yachting industry for years as being detrimental to business. The drop will not apply to permanent berth purchases. The impact on the forthcoming cruise season is expected to be positive.
Yacht owners should see a difference in the pricing structures at Italian marinas in 2015, making marina berths in line with Italian hotel infrastructure. Local nautical industry officials are hopeful that marinas will be able to improve their best offers to superyachts looking to enter Italian waters and believe the tax reduction will result in an increase of revenue of as much six times over previous years when the 22% rate was in effect.
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