The imperious need for financial resources affecting countries in the current economic crisis has forced tax authorities, the Spanish Inland Revenue (AEAT) to tighten up on tax fraud and tax avoidance investigatians as well as any potential irregularities. Yachting is and has been for a long time the object of scrupulous examinations by the Inspección de Tributos, Spanish tax Inspection authorities, in line with Government approved annual inspection plan. Initially the aforementioned plans were aimed solely at Spanish national yacht owners, the idea being to uncover irregularities and fraud in the payment of the «Impuesto Especial Sobre Determinados Medios de Transporte» a Special Tax an certain means of transport (particularly charter yachts) and the price of boat conveyancing, subject to VAT or ITP -Spanish transfer tax. However, the Spanish government has taken a turn to focus on revising the tax situation as regards yachts registered outside Spain but navigating Spanish waters andlor moored in Spanish ports. (THE BEST nº 51, 2013)
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