The Italian Budget Law for 2020 (Law no. 160 of December 27th, 2019) published on the Italian Official Gazette (GAZZETTA UFFICIALE) on December 30th 2019, changes the provision of the application of the Italian VAT due on short term charters with departure from the Italian territory.
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The “D.D.L di Bilancio 2020“ (the Italian Finance Act 2020) approved by the “Senato“ and transmitted to the “Camera“ provides a new rule related to the place of taxation for VAT purposes of short-term charter of pleasure boats.
Changes may occur very soon in Europe concerning the current reduced VAT lump sum taxable base on charter contracts.
The EU Commission’s goal is to harmonize rules abolishing the laws currently in place in Italy, France, Malta and Cyprus for the reduction of VAT on the taxable base for charter contracts and apply the general criteria contained in articles 56 and 59a of the EU VAT Directive 2006/112/CE.
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The Commission this July 25, 2019 has decided as part of the “July Infringement package“ to take further steps on the infringement proceedings opened on November 8th, 2018 regarding certain Italian fiscal rules related to the Yachting sector.
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The Italian Inland Revenue office (Agenzia delle Entrate) with Circular no. 14 / E of June 17th 2019 confirms that the foreign subjects identified for VAT purposes in Italy through a VAT Representative or by Direct Registration are NOT required to be subject to electronic invoicing.
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The Italian Customs Authority recently confirmed the procedures relate to art. no. 212 of the Delegated EU Regulation n.2446/2015 (RD) referring to the "Conditions for guaranteeing the total exemption from duties of the importation of means of transport".
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Following the recent news and information conveyed by various consultants and industry experts regarding the charter activity in Italy, we are pleased to clarify the following points:
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