Abolition of the possession tax for yachts

An amendment to the “Stability Law 2016” approved yesterday by the Budget Committee of the Italian House of Representatives abolished the tax on the possession of yachts, by adding the new paragraph 194-bis to article 1.
Today, December 17th, 2015 the amendments will be submitted for the Senate approval; the steps for the approval of the rule abolishing the tax on the possession of yachts will be completed with the final decision upon the Stability Law expected for the end of this year.
The Decree Law n. 201 of December 6th, 2011, also known as “Save-Italy Decree” reintroduced the mooring tax for pleasure crafts. By Decree Law of June 21st, 2013, in order to relaunch boating, the tax was abolished only for those vessels within 14 meters and some parameters, more in line the value of the vessels, the reductions for sail and the exemption for commercial vessel,  were introduced. By the new amendment, the tax shall be totally abolished for any kind of vessel.