Monaco, 21th September 2011 - Breakfast Meeting at MYS - Follow up News

A sell out event on the latest developments in Italian tax and legal issues proved yet again that these matters are still at the forefront of the superyacht industry.

Returning to Monaco Yacht Show for the second year in a row, the yachting team at PG Legal held their highly popular breakfast meeting on Italian tax and legal issues at the stunning Hermitage Hotel on Wednesday 21 September 2011.  Organised by the Superyacht Events Agency, guests were all interested in discussing the issues surrounding the understanding and use of the Italian yachting tax regulation in force, and included some of the industry’s top minds in law, brokerage, insurance and banking.

Yet again, the topics were highly debated.  Delegates discussed the idea that in times of deep financial crisis, as a first resort, States try to increase their cash flow by claiming higher taxes. In such a scenario, yachts owners – sometimes seen as tax evaders - are usually one of the first categories of taxpayers hit by interested harsh fiscal measures.  Gianfranco Puopolo, partner at PG Legal believes that subsequently, the latest developments of European law as well as of domestic law in France, Italy and the UK and the decisions of the European Court of Justice can make things more complex or easier, depending on your point of view.

For more information please contact Valeria at kutikhina@pglegal.it or see our brochure.