Italy Aims to Tax Yachts in Bid to Correct Finance Deficient

italian flagAs part of its plans to overhaul the county’s plight the Italian Government is planning to introduce a significant Berthing Tax for yachts and superyachts.

Beginning in May 2012, all yachts over 10 metres will, if ratified by government, be taxed on a daily basis.

Those of 24 metres and over will be taxed at a rate of €150 per day (€ 54,750.00 per year) if they stay at anchor off a port or tie alongside a dock inside one.  Yachts in dry dock will receive a 50% discount.

This measure is part of Decreto Legge 6 Dicembre 2011 n. 201, a draft Italian Statute currently under discussion before the Italian Parliament.

Nicknamed by Prime Minister, Mario Monti, during a recent speech as the "Save Italy" law, it forms part of a very extensive new tax regime whose efforts are to reduce Italy’s massive deficit.


Posted by Frances and Michael Howorth