ITALY: motor yacht Villa sul Mar seized

MY Villa sul mare

The newspaper Secolo XIX reported yesterday that the motor yacht "Villa sul mare" - a 43m Tecnomar yacht - has been seized in San Remo over suspicions in unpaid fuel taxes. The yacht belongs to Mrs Paola Perego, an Italian television host.

Last summer, Flavio Briatore, the former Formula One boss, had his £17 million yacht seized by Italian police, over suspicions he owed up to £3.5 million in unpaid taxes.

Superyacht Yogi sinks off Skyros, Greece

MY Yogi near Cannes

60m sunken Superyacht Yogi in Greece today, crew saved by greek coastguard, no one was injured. No further details are known at the moment.
 
from haf.webmaster on Vimeo.

Superyacht: Putin elaborates on luxury tax

Russia`s Prime Minister and presidential candidate Vladimir Putin has elaborated on his previously made initiative to impose taxes on luxury goods.

Speaking to his election agents on Tuesday, Putin said that taxes should be imposed only on goods purchased for personal overconsumption – huge villa, private aircraft, very expensive yachts and cars.

Mr. Putin added, however, that the money owned by a firm and then spent on industrial development, or the creation of new job places, must not be taxable.  

(TASS)

New 55m Heesen Serinity in Antibes Port Vauban

Built in 2011 by the well-known Heesen shipyard, and designed by Omega Architect, this brand new 55m displacement yacht offers a huge volume together with more fluid lines and a superb blue hull. This superyact is currently lying in Antibes south of France.

New Tax on Yacht in Italy: more information

Italain Maiora Yacht Underway

The ISYBA has published the detail of the new yacht tax in Italy.
Special thanks to Captain A. MAcri of MY Bachata
Article 16 - Provisions for the taxation of luxury cars,boats and airplane2. From 1 May 2012, the pleasure craft, in italian ports or water, surf or are anchored in public waters, even if in concession to private, are subject to the payment of Annual parking fee, calculated for each day or fraction it, the following measures:
a) 5 euros for units with a hull length of 10.01 meters to 12 meters;b) 8 euros for units with a hull length of 12.01 meters to 14 meters;c) 10 euros for units with a hull length from 14.01 to 17 meters;d) 30 euros for units with a hull length of 17.01 meters a24;e) 90 euros for units with a hull length from 24.01 to 34 meters;f) 207 euros for units with a hull length from 34.01 to 44 meters;g) 372 euros for units with a hull length from 44.01 to 54 meters;h) 521 euros for units with a hull length from 54.01 to 64 meters;i) 703 euros for units with a hull length greater than 64 meters.
3. The fee is reduced by half for units with a hull length up to 12 meters, used exclusively by the resident owners, as their ordinary means of locomotion, in the municipalities located insmaller islands in the Lagoon of Venice, as well as units in paragraph 2 to sail with auxiliary engine.
4. The tax does not apply to units owned or used by the State and other public bodies, to the mandatory saving, the dinghies, provided that they bear an indication of the unit pleasure to which they are placed, and the units mentioned in the paragraph 2 that are in an area of ​​storage and for days effective stay in storage.
5. Are exempt from tax under paragraph 2 craft owned and used by organizations and voluntary associations solely for the purposes of health care and first aid.
6. For the purposes of applying the provisions of paragraphs 2 and 3The length is measured by the harmonized standards EN / ISO / DIS 8666 for the measurement of boats and recreational craft.
7. Are required to pay the fee referred to in paragraph second owners, usufructuaries, buyers with retention of domain or the users by way of leasing. With decision of the Director of the Revenue shall be determined the procedures and terms of payment of tax, communicationidentification of the craft and information necessary control activities. The payments are also performed E-money without the burden of the state budget.The proceeds of the tax referred to in paragraph 2 of entrance flows State budget.
8. The receipt of payment, including electronic, the fee referred to in paragraph 2 performed by the master of the craft Agency Customs or the plant fuel distribution, for the annotation in the records of loading and unloading and controls to rear, in order to obtain the use of subsidized fuel for the parking or navigation.
9. The Harbour, the forces responsible for the protection of security and surveillance at sea and other forces responsible public safety or other law enforcement agencies and judicialensure the proper fulfillment of tax obligations by the provisions of paragraphs 2 to 7 of this article and rise in case of violation, proper minutes of forward to finding that the provincial directorate of the Agency revenue of territorial jurisdiction in relation to the place of commission of the violation, to verify the information. For identify, collect and apply litigation provisions with respect to taxes on income for the imposition sanctions shall apply the provisions of the Decree Legislative December 18, 1997, No 472, shall have the definition included envisaged. Violations may be made within sixty days Minutes of the elevation of the finding by payment of 'taxes and the minimum penalty reduced to fifty percent. Disputes concerning the tax referred to in paragraph 2shall revert to the jurisdiction of the tax courts under Legislative Decree of 31 December 1992, No 546.
10. For the failure, delay or partial payment of the tax is impose an administrative tax for 200 to 300 percent of the amount not paid, in addition to the amount of tax due.

Yacht Charters Mangusta 108

New Tax on Yacht in Italy

MY Force Blue was seized in 2010.

Italy's new government has adopted a package of emergency austerity measures aimed at fending off bankruptcy and saving the euro from collapse. 

Taxes on the assets - yacht and luxury cars - of the wealthy will go up. Owners of yachts will have to pay a tax based on the length of their craft. The plans must still be approved by the Italian parliament.

Superyacht flying italian or foreign flag, at anchor or moored in italian port, above 24m: euro 150 per day.

Yachting's Hidden Costs

Superyacht for sale at the last Cannes Boat Show

Future superyacht Owner: read this !

Another relevant articles about the superyacht market...and when sound advice come form an experienced brokerage company like Northrop Johnson...

Here is an interesting article published by Forbes about the hidden cost of superyacht ownership.

End of the French VAT exemption ?

BYM Marine - in fact Moore Stephens - published an interesting report about the latest VAT regulation in France and it seems that the European Commission has now decided to bring action...does it mean the end of the French VAT exemption on commercial yacht ?
Read more

New Magazine: the Superyacht Owner

During the last Monaco Yacht Show, we had the opportunity to read the pilot edition of The Superyacht Owner magazine.
We strongly recommend this new magazine which delivers superyacht owners what "they need to know...in a candid, clear, and concise way".
Less maketing, more relevant content !
Launch January 2012

Other recent interesting publication: Moore Stephens Yachting VAT note (July 2011 - PDF)