The Italian "Nautica & Fisco" Guide (4th edition 2013) was born from the need for a renewed relationship of mutual collaboration between the Revenue Agency and UCINA, which offers a useful consultation tool in the complex world of taxation relating to the nautical sector; a vademecum for easy orientation that is easy to use both for experts and for those who are entering the sector for the first time.
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We point out that the possession of a vessel registered in foreign registers entails the obligation of the owner/s to declare in the RW (natural persons or ENC) part of the tax return. The RW Framework does not have an income-related nature, but a declaratory one and must be presented with the same methods and deadlines as the declaration.
This datum has only a MONITORING function for tax purposes (circ. n. 38/2013, 43/2009, 85/2001 and resolution n. 134/2002). Therefore if the boat is used for recreational purposes and not for profit (rental, occasional rental, etc.) NO tax is due.
It is also true that in the context of a tax assessment, the data will be taken into consideration by the competent authorities to verify the adequacy of the declared income.