On 10 April 2025 the Italian Customs Agency has issued Circular No. 8/2025 to clarify procedures for non-EU yachts entering Italian waters, in light of recent legislative changes (Legislative Decree 141/2024). Temporary admission The previous guidelines provided in Circular No. 20/2022 have been confirmed, according to which “Temporary admission” regime allows non-EU private pleasure craft […]
Author Archives: Domenico Rinaldi
Updates
Major change in the rules regulating the activities of Tax Representatives of Yachts carrying out charters in Italy
24
Apr
Apr
Italy has introduced significant changes to the rules governing tax representatives for VAT purposes for non-resident entities. We remind you that companies not resident in the EU are required to appoint a tax representative in Italy in the case of charters departing from Italy, in order to comply with all Italian VAT obligations. In fact, […]
16
Jan
Jan
In response to the question raised by an Italian company (“Alfa Srl”), specializing in the rental and leasing of passenger vessels, the Italian Revenue Agency (“Agenzia delle Entrate”) has issued a crucial resolution (Risposta n. 1/2025) that allows to apply for VAT exemption on a yacht undergoing a “major refit”. The resolution revolves around the […]
16
Jan
Jan
Flavio Briatore, after having been definitively acquitted of charges of tax fraud concerning his yacht “Force Blue,” has commenced legal proceedings before the Court of Turin to claim damages against both the court appointed administrator and certain judicial authorities involved in the case. Specifically, Mr Briatore is claiming EUR 12.66 million to compensate damages for […]
05
Sep
Sep
Si informa che PG Legal ha sviluppato un processo di total outsourcing per consentire alle compagnie di assicurazione vita di delegare al nostro studio l’intera procedura di consultazione della piattaforma PDND – Anagrafe Nazionale della Popolazione Residente, senza alcun coinvolgimento dei sistemi informativi interni alla compagnia. Per ulteriori informazioni contattare Domenico Rinaldi, d.rinaldi@pglegal, Tel: +39 […]
05
Sep
Sep
It is noted that PG Legal has developed a total outsourcing process, allowing life insurance companies to delegate the entire procedure for consulting the PDND platform – National Register of Resident Population – to our firm, without any involvement of the company’s internal local IT systems. For further information contact Domenico Rinaldi, d.rinaldi@pglegal, Tel: 39 […]
12
Dec
Dec
Introduction The Italian Tax Agency has been carrying out an intense audit activity on a significant number of yachts that have carried out charters started in Italy during the period 2017/2020. The scope of the audits is to reclaim the VAT balance that should have been paid by the yacht owners on charters started in […]
05
Oct
Oct
Introduction It has come to our attention that the Italian Revenue Agency (Agenzia delle Entrate, ‘AE’) is conducting investigations into the VAT charged on charter fees by certain charter/yacht owning entities in relation to charter contracts signed before 1 November 2020. In these cases, the AE contested the use of flat-rate reduction of the VAT […]
22
May
May
L’art. 44, comma 2, del D.L. 48/2023, pubblicato sulla gazzetta ufficiale il 4 maggio 2023, ha previsto l’aumento allo 0,6% dell’aliquota dell’Imposta sulle Riserve Matematiche – IRM (e, di conseguenza, dell’aliquota dell’Imposta sul Valore dei Contratti Assicurativi – IVCA) per l’esercizio 2023 e allo 0,5% a partire dall’esercizio 2024. Ad oggi non è chiaro se […]
22
May
May
Art. 44, paragraph 2, of Decree-Law 48/2023, published in the Official Gazette on 4 May 2023, provides for an increase in the TMR rate (and consequently the IVCA rate) to 0.6% as from the 2023 tax year. To date, it is unclear whether the new rate will apply immediately to the payment due on 30 […]
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