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CYBER RISK OVERVIEW

Posted by  | December 06, 2017 | comments
CYBER RISK OVERVIEW

The urgent need to raise awareness on cyber risk threats and vulnerabilities is one of the most important issue of the maritime industry

And, in this respect, a high-level recommendations and guide lines on maritime risks and suggested measures for best practices and risk management are in the most recent works of IMO and BIMCO in order to advice shipowners, operators, Member's Governments and Administrations.   The main points under attention of a cyber security approach should include: identify the cyber security threat, both external to the ship and internal due to the lack of protection or posed by inappropriate use of ... Read More

VAT EXEMPTION REGIME APPLICABLE TO VESSELS

Posted by  | December 05, 2017 | comments
VAT EXEMPTION REGIME APPLICABLE TO VESSELS

FURTHER CLARIFICATION PROVIDED BY "NAUTICA & FISCO" GUIDELINES (issued by Agenzia delle Entrate and UCINA).

On September 2017, the Italian Tax Authorities ("Agenzia delle Entrate", hereinafter "AE") and the Association of Italian Shipbuilding Industry ("Unione Nazionale Cantieri e Industrie Nautiche", "UCINA"), issued the general guidelines on tax and yachting matters ("Guidelines"), contained in the book "Nautica & Fisco". The Guidelines provide further explanations about VAT exemption for transactions related to vessels (i) used for commercial purposes; and (ii) used for navigation on the high ... Read More

CHOICE OF LAW AND JURISDICTION CLAUSE IN SEAFARERS' EMPLOYMENT CONTRACTS

Posted by  | October 27, 2017 | comments
CHOICE OF LAW AND JURISDICTION CLAUSE IN SEAFARERS' EMPLOYMENT CONTRACTS

A seafarer was employed by a company with registered office in the Cayman Island, as captain of a motor yacht flying the flag of the Cayman Island

During the entire employment relationship, the captain received only part of the agreed salary; hence, after the cessation of the employment, he claimed the balance due before the Court of Genoa, requesting the arrest of the yacht as guarantee of its secured credit. The Captain sued the employer before an Italian court despite the existence of a jurisdiction clause contained in his employment agreement indicating the Cayman Island as exclusive forum. In February 2017, the Court of Genoa issued ... Read More

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