In December 2025, two legislative provisions of particular relevance were issued for those intending to invest in real estate in Italy. In particular, Law No. 182/2025 introduced a regulatory provision relating to the transfer of real estates that had previously been donated, while Budget Law No. 199/2015 introduced important new provisions on the taxation of income deriving from the rental of real estates through short-term rental contracts.

In general, issues relating to VAT management, including procedures for recovering VAT credits, are of great importance to all businesses. A frequent issue arises in relation to how foreign entities with a permanent establishment in Italy can request a VAT credit refund.

In its Answer No. 10 of 15 July 2025, the Italian Revenue Agency clarified a doubt that had arisen regarding the obligation for shipowners who are individuals acting outside the scope of a business, art or profession to act as withholding tax agents.

We have already addressed the issue of VAT treatment of leasing contracts entered into by private shipowners (so-called B2C transactions) on several times. The relevant legislation, which regulates non-short-term leasing contracts for yachts to private individuals in general, is contained in Article 7-sexies, paragraph 1, letter e-bis) of Presidential Decree No. 633/1972, and in Revenue Agency Provisions No. 341339/2020 and No. 151377/2021.

Chartering in the Italian seas always arouses great interest both for the beauty and importance of our coasts and for the highly professionalism of the operators offering these services. 

Italy is certainly one of the most attractive destinations for what is known as nautical tourism, and there are several tax implications associated with the performance of nautical charter activities by nautical charter operators.