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 […]
Author Archives: Domenico Rinaldi
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 […]
22
May
May
The change The Italian Legislative Decree n. 156/2022 amended article 301 of the TULD (Italian Consolidated Text of Custom Laws), allowing the possibility of equivalent value confiscation for the offence of smuggling when it is not possible to proceed with the direct confiscation of the product or the profit of the crime. The introduction of […]
22
May
May
From a fiscal point of view, careful attention should be paid to VAT issues. When purchasing from an Italian shipyard, the general rule is that the price is subject to 22% VAT. However, there are some specific cases in which it is possible to take advantage of Legal non-taxable regimes . In particular: ■ In […]
The Italian Revenue Agency (Agenzia delle Entrate), in its reply no. 175 of January 31, 2023 has confirmed that in order to benefit of the non-taxable VAT status provided for by Article 8-bis, (1) (a) of the VAT decree (Presidential Decree No. 633/72), it is not sufficient that the vessel is used for navigation on […]
The Circular of the Customs and Monopolies Agency, No. 9/2023 of 14 March 2023 clarified that Article 1, paragraphs 186 to 202, Law No. 197/2022, which allows a simplified settlement of tax disputes pending before the Italian tax courts, may be applied also to customs duties and related penalties. This provision allows for sanctions to […]
The Italian Revenue Agency (Agenzia delle Entrate), in its reply no. 254 of 17/03/2023, clarified that the fees for works of ordinary maintenance carried out by Italian suppliers on yachts under temporary importation regime are not subject to VAT pursuant to Article 9, paragraph 1, no. 9 of the VAT decree (DPR n. 633/72). The […]
14
Mar
Mar
Permanent Establishment (Agenzia delle Entrate Answer No. 96/2023) The Italian Tax Agency (Agenzia delle Entrate, “AE”) considers that the sale of tourist packages in Italy by a foreign company (established in Switzerland), including the charter of pleasure vessels, carried out exclusively from offices located outside the Italian territory and/or when such activity is carried out […]
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