Entries in tax (1)


Italian Finances & You

We love Italy and, hey, my brother-in-law is an Italian winemaker.  But sometimes we just have to stand back and wonder what they are thinking. 

The Italians are talking about imposing a tax on any boat that visits or anchors in Italian waters during the 2012 summer and, apparently, this applies to everything from inflatables up to megayachts, including bareboat charters.  The rate hasn’t been set, although early indications are that a 30-40’ yacht would be hit about US$10-15 per day.  Yachts of 55’ will pay about US$40. Megayachts of 50 meters (164’) will pay 700 Euros (something less than US$1000) a day whether at anchor or docked. 

The politicians of Sardinia imposed a similar “luxury” tax in 2006 that applied to all yachts over 46’, with fees ranging up to $20,000 for the privilege of spending money in Sardinia’s jet-set harbors.  As you can imagine, the yachts left in droves and the harbors were empty until 2009 when wiser heads in a new government scrapped the tax.

This is just a heads-up for anyone planning to charter in Italy this summer.  Check with your charter company or agent for updated information.

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