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ISS Highlight Update to Italian Yacht Tax
Highlighted in a recent press release from the International Superyacht Society (ISS), Italian tax regulations will be lifted on crafts belonging to foreign nationals passing through or mooring in Italian waters.
After what was initially a tax on ownership was introduced to Italian waters, UCINA Confindustria Nautica – the national association that furthers the development and enhancement of the nautical tourism sector - have worked in collaboration with other associations to exempt foreign owners of boats and pleasure ships from payment of the mooring tax provided from December last year.
This tax will now exclusively apply to Italian yacht owners, including those sailing under a foreign flag. Also exempted from payment of the tax are crafts belonging to hire or lease companies.
Commenting on the recent changes, Anton Francesco Albertoni, President of UCINA, declared: “We are pleased that foreign pleasure boaters can now organise their holidays in our seas without having to pay any additional charges. Nautical tourism from abroad is an important resource for our country. Therefore, we may now continue to offer overseas pleasure boaters the opportunity to enjoy the extraordinarily natural beauty of our coastlines, as well as the services, facilities and warm welcome Italian hospitality is renowned for”.