An article by Ezio Vannucci was published on January 8th on SUPER YACHT 24 online magazine(link to the article), below the translation:
“The Italian Inland Revenue Office clarified with Ruling (Interpello) no.1/2025 that in the case of a private yacht lying in a shipyard for a long period under major refit work aimed at changing its use from private to commercial, it is possible to apply, already in the processing phase, the VAT non-taxable regime pursuant to Article 8 bis through the advance submission of the so-called “high seas” declaration.
In order to clarify the reasons for this possibility, it should be clarified that Major refit means the structural transformation of a vessel so that it is equipped and registered as a commercial one, so these are interventions that are substantially similar to a new construction.
Such work will have to be carried out under the constant control of the authority in charge (certification registry-in Italy, RINA) and will be aimed at the issuance, in addition to the standard certificates, also of the relevant on-board certificates attesting the existence of the class and safety requirements (class certificate and safety certificate) for yachts under commercial use.
The Office also clarifies that, the verification of the conditions of navigation on the high seas provided for the application of the aforementioned VAT non-taxable regime (article 8 bis), may be carried out after the termination the refit work, at the end of the calendar year of the first actual use of the vessel instead of in the calendar year of submission of the declaration.”
