Update on Italian Yachting Tax Regulations
The Italian Parliament has approved the amendment to the fiercely criticised yacht berthing-tax, which was introduced in December 2011.
The amendment means the berthing-tax will no longer be applied to yachts berthing or navigating in Italian waters, only to Italian yacht owners, regardless as to whether the yacht is kept in Italy or overseas.
The new law means all foreign owned yachts will be exempt from paying the tax and will come into effect on 1st May 2012.
The new law means all foreign owned yachts will be exempt from paying the tax