The 2019 edition of the Yacht Welfare VAT Guide is finally released. You can ask your copy by sending an email to info@yachtwelfare.it. Our Team of Lawyers and Fiscal Advisors is always available to assist you during your Charter Season in the Mediterranean Sea.
Owning
Companies identified for VAT in Italy by a Fiscal Representative are not
required to be accredited to the SDI – Interchange System (SDI – Sistema di
Interscambio ) for the e-invoicing procedure introduced by the Italian Tax
Authority (Agenzia delle Entrate) starting from January 2019.
Law
Decree N. 119/2018 (art. 15) amends the Italian regulation that introduced the
mandatory electronic invoicing starting from 1st January 2019 (art.
1, para. 6 of Law Decree no. 127/2015) according to Implementing Decision (EU)
2018/593 from 16 April 2018 – which authorized Italy to the widespread use of
electronic invoices – specifying that the obligation applies only to
subjects established within the State (Italy) and not to foreign subjects identified for Italian VAT purposes, but
not residing therein. This amendment implements what had been anticipated by
the tax Agency in its Circular Letter no. 13/2018.
Therefore
Owning Companies do not have the obligation to issue electronic invoices
(e-Invoice).
This
means that the actual procedure does not change and each invoice relevant to
VAT due on Charters – having fiscal applicability in Italy – will still need to
be issued in hard copy (paper format).
Please
note that all the paper invoices issued by suppliers will need to contain the
following wording: “copia cartacea della
fattura” (translated: hard copy of the invoice). This will allow the Owning
Company to still be able to deduct the VAT debited by the supplier. A “courtesy-copy”
of the same invoice can be sent by the supplier to the client in digital format
(e.g. pdf file sent by email).
The Italian government’s Gazzetta Ufficiale, which lists newly enacted laws, published no. 300 ‘legge di Stabilità’ on 30 December 2014. Article 1 clause 237 stated that temporary berthing and mooring in Italian waters would now incur a duty of 10 per cent, as opposed to the 22 per cent rate that had been castigated by the Italian yachting industry for its detrimental effect on business. This however, will not apply to permanent berth purchases. For more info please see also http://www.ucina.net/en/component/k2/item/304-il-senato-ha-convertito-con-la-fiducia-il-decreto-legge-sblocca-italia.
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