Yacht charter market in Spain is now open to anyone to operate avoiding the payment of matriculation tax.
The Spanish Congress of Deputies has approved a bill that modifies of the current exemption foreseen for vessels really and exclusively dedicated to the charter activity, eliminating the mention to the maximum length of 15 meters for these vessels. The bill was introduced by the government in July this year.
After this approval, the bill has to be published in the Official Bulletin of the State, the official gazette of the Government of Spain in order to be mandatory. This is expected to happen in one week’s time.
The new rule means the opening of the Spanish yacht charter market to anyone interested to operate in, avoiding the payment of matriculation tax, which is set at 12%. However, the tax exception does not mean the activity can be developed itself without previous approval.
The tax amendment will allow Spain to participate in this market in the same conditions than Spain’s surrounding countries. The impact of this measure is expected to be seen on next year’s 2014 charter season.
Commenting on the news, Norma Trease, director of Salamanca Group’s marine division, says: “The repeal of the Spanish Matriculation will very positively impact yacht chartering throughout Spanish waters. As Marina Port Vell is based in the heart of Barcelona, we certainly expect that we will see a dramatic upsurge in charters beginning and finishing here.”
Group acquired Barcelona’s Marina Port Vell in 2010. (https://plus.ibinews.com, 20 October 2013)