Norma Trease, Director of Salamanca Group’s Marine Division, has commented on the recent repeal of the Spanish Matriculation Tax: “The best news imaginable for any and every yachting business in Barcelona—and beyond. Yet another example that Spain stands to be one the foremost destinations for the world’s best and largest yachts. All of us at Marina Port Vell and Salamanca Group salute the foresight and brave forward movements shown by the Spanish government. Bravo!”
Lovely Spanish yacht charter destination - Barcelona Photo credit to Tourism Province of Barcelona
• “Here are excerpts from the post of Alex Chumillas Amat, Yacht Consultant Taxmarine, which outlines the critical approval today.”
On Thursday, October 17, 2013, the Spanish Congress of Deputies approve the bill that contains the modification of the current exemption foreseen in the Spanish Excise Duties Law (Law 38/1992) for vessels really and exclusively dedicated to the charter activity, eliminating the mention to the maximum length of 15 meters for these vessels. After this approval the bill has to be published in the Spanish for 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 time.
This in practice means the opening of the Spanish yacht charter market to anyone interested to operate in, avoiding the payment of matriculation tax. This tax benefit does not mean the activity can be developed itself without previous approval. Even more, carrying out the charter activity without the necessary permissions might involve very important penalties and the loss of the matriculation tax relief benefit. Therefore it is completely necessary to go for a licensing procedure. However we it is extraordinary good news long claimed by the Spanish yachting-industry professionals.
Therefore this is excellent news for the entire Spanish marine industry. The tax amendment will allow Spain to participate in this market in the same conditions than the surrounding countries. This is the result of so many peoples’ efforts involved that have been working behind the scenes for many years and definitely will help to activate charter business in Spain. It is expected to see the effect of this measure on next year’s 2014 charter season.
• “The timing couldn’t be better for our wonderful project of the complete transformation of Marina Port Vell into a world-class superyacht facility, which is due to be fully delivered in 2014, coinciding perfectly with the final repeal of the Matriculation Tax on charter yachts. Soon, international charter yachts can cruise the beautiful Spanish coast and islands without hassle. We very much look forward to welcoming many of the world’s most prestigious yachts to Barcelona, where they can accomplish everything and anything required before, after or during a charter.”
• “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—with its excellent transportation hubs as both international airport and high-speed railway are only minutes away— we certainly expect that we will see a dramatic upsurge in charters beginning and finishing here.”
• “Chartering the Med remains the most popular region worldwide, and Barcelona has long been one of Europe‘s most vibrant tourist destinations. So opening Spanish waters to international activity will most likely boost chartering even further, which is excellent news for entire worldwide yachting community.”
