In January we informed our readers of a new Italian yacht tax signed into law in December 2011. Effective May 1, 2012, the tax will assess a fee for each day a yacht is in service in Italian waters.
Superyacht industry experts, like Jana Sheeder, President of SailAway Yacht Charters and 1-800 Yacht Charters, and others, urged Italian authorities to analyze the economic impact of the pending legislation.
“Our concern was the quest for increased tax revenue might have a far-reaching effect on both the charter industry, and ancillary businesses that support yachting such as marinas, fuel brokers, shipyards, and tourism offices,” said Sheeder. “Even if you exclude charter revenues, support-related industries on their own generate €200,000,000 in annual revenue.”
To their credit – the Italian lawmakers listened…
On Tuesday, February 21, the 10th Commission of the Italian Senate for Industry, Commerce, and Tourism passed the Grillo and Cutrufo amendment to the Italian berth tax legislation. The amendment stipulates the berthing tax will only be applied to Italian citizens who own a vessel, even if the yacht flies a foreign flag. Foreign citizens who own a boat or Mediterranean yacht charter vessel are exempt from this tax, regardless of their length of stay in Italian waters.
Fulvio Luise, President of Federagenti Yacht Division, expressed his satisfaction: “The passing of this amendment is an important recognition to the economic impact the yachting industry has in Italy and we look forward to welcoming new and returning megayacht clients to Italian waters this summer.”
Sheeder echoed Luise’s sentiments:
“This amendment will allow Italy to continue to compete on an equal playing field with neighboring countries for the charter sector of the Mediterranean yachting market. We’re hopeful that the Italian yacht charter market will continue to flourish for many more years.”
This entry was posted in News Educational and tagged Mediterranean yacht charter, yacht charter Italy, rent a yacht, charter a yacht, Grillo and Cutrufo Yacht Charter Amendment, Federagenti Yacht Division, yacht charter tax, luxury yacht taxPosted on
After a major refit in 2011, the Pershing 115 motor yacht MISTRAL 55 will be available for the first time as a charter yacht this summer, along the Italian Riviera.
Based in San Remo, Italy, this high-speed open yacht is available in the Mediterranean from € 70,000 per week in the low season and € 90,000 per week in the high season.
This entry was posted in Yacht Charter News Yacht of the Week Educational and tagged yacht charter Italy, Italian Riviera, fast, fast charterboat, Mistral 55, Pershing 115, Italian yacht charter, high performancePosted on
Every summer, hundreds of well-heeled travelers migrate to the Western Mediterranean. They travel there to enjoy a private yacht luxury charter vacation. Coastal towns like Nice and St Tropez in France participate. San Remo and Portofino in Italy also host dozens of superyachts. The boats are packed with charterers from around the world. It’s an affluent vacation. Even the wealthy cringe when their exclusive yacht rental holiday is socked with VAT charges often in excess of 12%. They know the value of their hard-earned dollars. We make sure that their memorable and valuable vacation funds are spent wisely.
Imagine spending €725,000/wk to rent a yacht. For example, Admiral superyacht PLANET NINE as your holiday hire. Just envision incurring an additional €87,000 in VAT? Ouch!!!
Over the years, we composed many blogs about the challenges of VAT taxes. Yacht rental guests need to stay aware of the laws. In some years, yacht charters were VAT exempt. In others, the exemption was rescinded. The rates go up, down, and often vary among various European Union countries, like France, Spain, and Italy.
Fortunately, with a little advance planning, it might be possible to reduce your charter’s VAT liability by up to 50%. Jana Sheeder, our company’s President explains:
“If you rent a luxury yacht for a vacation in the South of France, say, Nice, Antibes, Cannes, and neighboring Monte Carlo (in the principality of Monaco), you will incur a VAT charge of 12%. However, if leave European Union waters during your charter, the VAT is reduced by 50%. The easiest way to accomplish this is to schedule an overnight run to the island of Sardinia, off the French coast. Spend a day of so in the area, then cruise back to the South of France. Not only is this a worthwhile itinerary, you’ll also enjoy a tremendous discount in your VAT expenses.”
To accomplish this, and to be in full, legal compliance with the European Union statutes, Jana adds a clause to the client’s yacht charter agreement that reads, in part
“It is agreed between the parties that the yacht will cruise in international waters for part of the itinerary, which has not been determined, so VAT will only be charged on the 50% of the charter fee. In the event the yacht does not cruise in international waters and VAT becomes due on the total amount of the charter fee, the charterer hereby agrees to pay the outstanding VAT on the total amount of the charter fee in cleared funds and without delay to the stakeholder. VAT is calculated with a lump sum reduction of the time spent in EU waters in application of BOI-TVA-CHAMP-20-50-20-20120912 Article 90.”
In addition to reducing VAT expenses in France, it’s also possible to find similar savings in other Western Mediterranean destinations. Similar money-saving strategies apply for charter yacht luxury vacations in Italy as well.
For example, if a charterer wants to start and end a 10 night trip in Naples, Jana will encourage the client to end the charter in Sardinia, to the west, or Sicily to the south, in order to cruise through international waters, and qualify for a reduced VAT fee.
In conclusion, with just a little advance planning, it’s possible to save thousands of dollars on your next luxury rental yacht vacation!
This entry was posted in Yacht Charter News Educational and tagged yacht charter France, Mediterranean yacht charter, Jana Sheeder, president of 1-800 Yacht Charters, yacht charter Italy, VAT, Video, yacht video, president, how to save money on a yacht charter, vat taxes, lower taxes on yacht charters, Planet Nine, yacht charter video, save money on vatPosted on
Italian-built superyacht OLAH revved everyone’s engines recently. The owner announced a 25% price reduction AND a secured trackside berth for the 2011 Monaco Grand Prix.
The 47.5 meter yacht originally offered a 5-day race package for Euro € 159,000. She then reduced that price to Euro € 120,000 for 5 nights, including the berth. All running expenses, such as fuel, food, and bar, are extra.
The 2005 Italian megayacht is a regular fixture on the summer Mediterranean yacht charter circuit. She has Walter Franchini Design, with a light and elegant interior by Cristiano Gatto Design. Yacht OLAH (x-KOLAHA) accommodates up to 10 guests. She can host up to 40 guests while in port for race watching and corporate cocktail receptions.
Yacht charters are one of the most popular ways of experiencing special events like the Monaco Grand Prix, Cannes Film Festival, Mipim, or Fashion Weeks.
“At this late date, it is critical to have a secured superyacht berth,” states Jana Sheeder, President of 1-800 Yacht Charters and SailAway Yacht Charters.
“Yachts without secured berths will be anchored in the bay, far from the race and the related onshore activities.“
This entry was posted in Yacht Charter Special Events Yacht of the Week and tagged Mediterranean yacht charter, Jana Sheeder, Monaco Grand Prix, president of 1-800 Yacht Charters, yacht charter Italy, Olah, Kolaha, Rola, secured berth at special event, Italian superyacht, F1 race, Walter Franchini, Cristiano Gatto DesignPosted on
This entry was posted in Yacht Charter Destinations Special Offers Yacht of the Week and tagged sailing yacht, sailboat charter, yacht charter Italy, Sardinia yacht charter, Annagine, Dykstra & Partners Naval Architects, JOM, JOM Yachts HollandPosted on
If you are planning a luxury mega yacht charter this summer on a Mediterranean yacht, you’ll be pleased to know Luise Group, leaders in maritime agency services to the superyacht industry, has taken over management of the Ponente Quay (Molo di Ponente) of Lacco Ameno on the Island of Ischia.
The marina known previously as Heaven’s Quay, has now been renamed The Seventh Heaven Yacht Club.
Ischia is a volcanic island in the Tyrrhenian Sea, about 30 kilometers from Naples, Italy, at the northern end of the Gulf of Naples, and is a frequent destination for sail boat charters and mega yacht charters.
The Seventh Heaven Yacht Club, located on the northern part of island of Ischia, can accommodate twelve mega yachts, and the marina covers an area close to 16,000 square metres. The pier, which is 140 metres in length, offers all essential necessities including water, electricity, and mooring posts.
The renamed facility will now figure prominently among the most prestigious ports and marinas that are currently managed by the Luise Group.
Luise Associates, the branch of Luise Group which is exclusively dedicated to maritime agency services for mega yachts, works with over 600 yachts cruising in the Gulf of Naples each year.
Francesco Luise, Managing Partner of Luise Group commented, “We are very proud to be able to take under our management the main dock in Lacco Ameno, Ischia. Although the area of Lacco Ameno is one of the smallest counties on the Island of Ischia, it is a prestigious and visually beautiful location for superyachts to berth. The Seventh Heaven Yacht Club will permit us to have a permanent presence in the area while continuing to provide the best in maritime agency services to our clients.”
This entry was posted in Destinations Educational and tagged Italy, yacht charter Italy, Italy yacht charter, Ischia, Seventh Heaven Yacht Club, Francesco Luise, Luise Group, Lacco Ameno, Gulf of Naples, Heaven's QuayPosted on
If you are planning a luxury sailing charter, or a week cruising on a motoryacht, Sardinia is truly a cruising paradise, with crystal clear waters and quiet anchorages.
Last week, we introduced our readers to the enchanted island of Sardinia’s location off the coast of Italy.
Today, we take a look at the island, itself, and our top four recommendations for things to do in Sardinia.
1. Visit BOSA: Away from the coast, much of the countryside is mountainous, but with innumerable charming villages, hotels, restaurants and incredible views. Along the coast, however, is a special small town worth a visit – Bosa. This 12th century town is situated on the west coast, north of Oristano, in a valley on the Temo, the only navigable river in Sardinia.
The city is overlooked by the Castello Malaspina, which dates to 1112. To the south of the Castle, on the north bank next to the bridge, is the Bosa Cathedral. This structure was constructed in the fifteenth century. Inside is a splendid interior of marble statues and nineteenth century frescos. The nearby Bosa Marina Beach is regularly voted the cleanest beach in Italy.
Travel Tip – if arriving via a luxury mega yacht charter vessel, the Bosa Marina is just 2 kilometers from the town of Bosa. While the marina can accommodate yachts up to 50 meters, most of the slips are for smaller yachts so call in advance to secure a reservation during peak summer periods.
2. Ride the TRENINO VERDE – In the summer, the Trenino Verde tourist train runs from Palau south through the mountains. It’s a beautiful route that meanders its way slowly through the hills, and a way to see the interior of Sardinia. One of the stops along the way is the small village of Sant’Antonio di Gallura, a true farming village on a hillside overlooking the Diga Liscia lake. The old center of the village is charming, grouped around the piazza and church of Sant’Antonio. The town has few visitors in the summer, but is very much a typical Gallurese working village. If you prefer to be surrounded by local residents rather than other tourists, this is the place for you.
Travel tip – stop by the Capichera winery and pick up several bottles of their famous Classico white wines – with dry, rounded and mouthfilling flavors of juicy, aromatic fruit, and a long, lingering finish, rich in tangy minerals.
3. See the NURAGHI: Looking like man-made beehives, the Nuraghi are stone dwellings dating back to the bronze age, and found nowhere on earth but on Sardinia. The exact use of these structures remains unknown, but scientists speculate they were either used as religious temples, or military strongholds. With over 6000 on the island, the most famous Nuraghe is Nuraxi su Barumini, which has been designated a World Heritage Site by UNESCO. Barumini is located at approximately 60 kilometers north of Cagliari, the capital of Sardinia.
4. Explore PARCO NAZIONALE dell’ ARCIPELAGO di MADDALENA: La Maddalena is a national park located in the north of Sardinia. On clear days, you can see the coastline of the French island of Corsica from the most northern island of La Maddalena, Isola Razzoli. Luxury sailing charter guests love this destination as most of the islands in this archipelago can only be reached by boat. Here, visitors are offered a glimpse of unspoilt nature, stunning views, and the kindness of friendly, local residents.
Travel tip – hire a local guide for a hiking excursion. A handful of residents are trained environmental hiking guides licensed by the national park to lead hiking tours of the islands. Scuba is another popular adventure in the archipelago and several dive operators have shops on La Maddalena including Area 11 Diver and Scuba Point.
Dazzling beaches, clear water, ancient fortress cities, and modern port towns make Sardinia a “must” stopover for any Western Mediterranean yachting vacation.
Help us round out our list from a “Top four” to a “Top five” review of the best Sardinia has to offer. Tell us your favorite thing to do in Sardinia! Contact the 1-800 YACHT CHARTERS destination team with your travel tips for sightseeing in Sardinia.
This entry was posted in Destinations and tagged Eastern Mediterranean yacht charter, yacht charter Italy, Sardinia, yacht charter Sardinia, Parco Nazionale dell' Arcipelago de Maddalena, Nuraghi, stone dwellings in Sardinia, Cagliari, Trenino Verde tourist train, Capichera winery, Bosa MarinaPosted on