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[ FIVE QUESTIONS TO... ]
LUIGI MACCHIOLA ASSILEA GENERAL DIRECTOR by Fabio Petrone
The year 2020 will go down in history books as the low point in the pandemic, but for the yacht-building industry it marked the start of a very favourable period. Why is that? A number of reasons, based firstly on the nature of the Italian yacht-building industry, which is the best in the world, and socially, because yachts provide a degree of social distancing for families. It’s also true that the restrictions on movement caused by the Covid-19 measures have increased our desire for freedom, which is something that sailing can offer. Many new owners have turned to leasing as a way of purchasing their first yacht. What benefits does this offer? Up to 30th October 2020 they benefitted from old system of tax base calculation. And now, why should we opt for a yacht leasing arrangement with a bank or Italian finance company? Because we’re now able to offer Europe’s safest, most advantageous system, after fulfilling the EU Commission’s requirements for modifying tax base calculations. It’s been a tough task, promoted by Assilea together with Confindustria Nautica. I’d also
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like to point out that our companies are subject to strict oversight from the Bank of Italy, which provides a further guarantee for clients.
Can Italian nautical leasing also be used by those not flying the Italian flag? Yes, sure. But after the changes in the Nautical Code required by the government, especially after pressure from Confindustria Nautica, as a pleasure sailing enthusiast I believe there are ever fewer reasons to change flags and more and more reasons to choose the Italian colours. That applies to non-Italians, too. In this sense it’s to be hoped that the Minister completes the implementation regulation for the Nautical Code as soon as possible. The figures for 2020 recently released by Assilea (600 million euro, +15.9% on 2019), show that leasing is now a vital element for growth in the nautical sector. What actions could make it even more effective? As soon as the Inland Revenue’s implementing measure, strongly supported by Assilea, comes into force, leasing companies will no longer have joint liability with the user in the tax authority’s eyes. It’s a revolutionary move for our sector.