The 2019 edition of the Yacht Welfare VAT Guide is finally released. You can ask your copy by sending an email to firstname.lastname@example.org. Our Team of Lawyers and Fiscal Advisors is always available to assist you during your Charter Season in the Mediterranean Sea.
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“E-INVOICE” NOT REQUIRED
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).
A full explanation of the e-Invoicing in Italy can be consulted on the EU official website or visiting the following link: https://ec.europa.eu/cefdigital/wiki/display/CEFDIGITAL/eInvoicing+in+Italy.
For any questions or additional info please email us to email@example.com
Reduction of Taxes for Berth in Italy from 22% to 10% only
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.