Your summer vita might get a bit less dolce from 2024, when new rules are set to come into force that some in the know are warning could change the fabric of Italy's seaside
, a waterside restaurant in the Abruzzo region on the Adriatic coast, says the new law is"not right."-- a wooden fishing platform cantilevered over the sea, reached by a rickety walkway, typical of the area. The tradition dates back centuries, and mostVeri's grandfather, a fisherman, built the, before his grandson saved it from destruction by converting it into a restaurant in 2010 and changing the family's financial fortunes.
"A business owner who was told they had till 2033, did a 10-year projection, and made investments and life choices, now finds that the state has taken away 10 years, and so far there's been no guarantee of compensation being paid," he said.If companies coming in do need to pay compensation to the outgoing operators,"prices will rise without a doubt," he said.
"Tourist-focused businesses are very attractive to money launderers, so the risk is there. I fear an infiltration of illegal funds."Italy's historic beach concessions include Art Deco establishments in Tuscany.Italy's packed beachside concessions are"unique in the world," dating as far back as the 1700s, according to Alex Giuzio, author of"La Linea Fragile," about Italy's coastline.
Not everyone is devastated. Some point to the current low rents for concession-holders, and the suspiciously low tax declarations that they often submit.
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