What do the changes to the Spanish Matriculation Tax really mean? (4 October 2013)

As the Tax Bill amending the Matriculation Tax on charter yachts has now been passed by Congress and Senate and all levels of Spanish Government, it formally becomes law as of today. SuperyachtNews.com spoke with two Spanish experts helping to spearhead the cause from the front lines. Patricia Bullock of Network Marine Consultants shares that «we are delighted with the positive results of the lobbying which so many people have been involved with and invested so much time. The amendment is simply removing the 15 metre limit for charter yachts to be able to apply for exemption from the tax, which will enable all correctly registered charter yachts to apply for the exemption».

Miguel Angel Serra, lawyer and economist at Garrigues firm in Palma spoke to SuperyachtNews.com this morning that while it has been a long and drawn out process, Spain is finally seeing the fruits of its labour. «The legal process has been tedious as the legal modification had been announced by the Council of Ministers of the Spanish Government on 28 June 2013, and after a long and somewhat confusing amendments period, has finally been approved and published.» As Serra continues «The Preamble of he Law itself recognises that this measure will bring the Spanish tax regulations closer into line with those of other European countries, strengthen the Spanish yachting industry … and produce a revitalising effect on other productive industries, with the consequence of increasing the capacity to generate wealth and employment. It will also help Spain with the diversification, deseasonalisation and deconcentration of traditional tourism». (http://www.superyachtnews.com, 30 October 2013)

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