- Alfa S.r.l. is a newly established company involved in leasing and renting ships for passenger transport
- The company purchased an Italian-flagged motor yacht registered in the Leisure Craft Register
- The yacht is currently in a shipyard undergoing refitting to meet the technical requirements for commercial registration, expected to be completed after December 31 of the current year
- Alfa S.r.l. plans to use the yacht for commercial purposes and high seas navigation, seeking VAT exemption under Article 8-bis of the Presidential Decree of October 26, 1972, No. 633
- The company inquires whether the high seas navigation condition can be verified at the end of the calendar year of the yacht’s first actual use rather than the year of declaration submission, similar to the treatment of ships under construction
- Alfa S.r.l. proposes to submit a preventive declaration under Article 8-bis, including all existing yacht details and indicating an intention to make over 70 percent of voyages on the high seas
- This would allow the company to benefit from VAT exemption on purchases related to the yacht from the year of the preventive declaration
- The final verification of the high seas navigation condition would be at the end of the calendar year when the yacht is first actually used, post-refitting
- The opinion is based on information and documents provided by Alfa S.r.l., accepted without critical review by the tax authority
Source: agenziaentrate.gov.it
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.
