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Italy: Place of supply, VAT rules for pleasure boats used outside EU

Italy: Place of supply, VAT rules for pleasure boats

A provision (article 48) of Law Decree no. 76/2020 sets forth rules concerning the value added tax (VAT) treatment of business-to-consumer (B2C) short-term hires and leases of pleasure boats and yachts.

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According to article 48, the new place-of-supply rules for the lease of vessels reflect the following amendments:

  • The rules are effective beginning from 1 November 2020 (instead of 15 June 2020 as originally established).
  • The rules are extended and apply to B2C long-term leases of boats and vessels.

Under Italy’s legislative procedures, Law Decree no. 76/2020 must be converted into law by 14 September 2020.

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