·Yacht registered under a EU-flag with the authorization by the Flag-State to be chartered, or if non-EU-flagged the yacht must have been EU-imported;
·The Operator must be VAT- registered in Italy;
VAT:
·The VAT rate is 22% on ALL charter starting in Italy or coming in from outside EU;
·The Owning Company may not charge Italian Vat on the portion of effective use (the time or the miles) spent in international waters.
·There is none Italian VAT to be paid or charter-parties starting from other EU-member states.
Tax-free fuel:
·Available against current charter agreement and under respect to the condition that over the civil year 70% of the voyage of the yacht goes outside of the 12 miIes zone.