- The Italian Revenue Agency said an intermediary corporate structure does not block VAT and customs duty exemptions for moving a yacht to Italy.
- Tax relief is allowed if the taxpayer had effective control and use of the yacht before relocation.
- Using the yacht in non-EU waters does not jeopardize the exemption.
- The ruling reflects the mobile nature of pleasure yachts under Directive 2009/132/EC.
Source: withersworldwide.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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