Tax Break Signals Great News For Yachts In Italy

By Oliver Pearson 28 January 2016

Abolishing the ‘possession tax’ which penalised any owner with a yacht longer than 14m, the Italian Government have ushered in a new age for the beautiful region.

Whilst Italy has historically been a popular destination for charters in the West Mediterranean, it has been somewhat handicapped over the past three years by the ‘Stability Law’ which targeted the owners of larger yachts.

In an attempt to revive the national economy, the government set out a series of measures which included unreasonably taxing the owners of properties and assets which were considered to be of considerable value.

Thankfully, towards the end of December 2015, the government reassessed their approach to the budget and decided to abolish the harsh conditions which negatively impacted owners each year.

With this in mind, we could well see increased activity in the area - a pleasant surprise considering its many wonderful offerings.

Attracting charter guests the world over, Italy and its surrounding islands are home to some of the most beautiful coastlines and waters.

With the Italian Riviera providing the relaxed charm whilst Sicily and Sardinia show off the history, there’s no end to the possibilities on offer.

What’s more, as the birthplace of many leading fashion houses, Italy offers an outstanding range of boutiques which you won’t find anywhere else in the world.

With so much to do on an Italian charter vacation, it’s of course incredible to know that as we go into 2016, owners will have the freedom to return home.

Although already a leading charter destination, we can expect Italy to continue to grow in a fairer economic climate

In order to make enquires regarding a charter vacation in Italy, please get in touch with your preferred charter broker.

Alternatively, take a look at all luxury charter yachts in the Mediterranean.