Be informed that starting from April 2014, as per our Official Petition 903-13/2014-Art.11, law 27th July 2000, No. 212, filed with the Agenzia Delle Entrate (Italian Revenue Office) on 23rd January 2014, it became official that APA is not taxable as per Art. 2, paragraph-3, letter-a) of DPR 633/1972 (Presidential Decree) being a sum of money, given by the charterer to the yacht’s captain, to refund the ship’s owner company for the running expenses during a charter subject to the Italian laws and rules. At the end of the charter a detailed APA report is mandatory to raise the APA invoice under Art.15 No.3 paragraph-1 in favor of the charterer for his own purposes. This invoice is not subject to VAT and can be issued by the Fiscal Representative on behalf of the ship’s owner company. Please send an email to firstname.lastname@example.org for more accurate info.