Maritime taxation
A comparative approach is constantly taken into account when advising clients about any international transaction. The benefits of the Tonnage tax system foreseen by the Act which introduced the International Registry of Ships in Italy are compared with similar taxations in force in other Countries. Bilateral Conventions on dual taxation are carefully monitored in order to identify the existence and the entity of any withholding tax (for instance upon the hire instalments due to non Italian owners by Italian charterers under bareboat charter arrangements).
