Norma Trease on the Repeal of the Spanish Matriculation Tax
On Thursday, October 17, 2013, the Spanish Congress of Deputies has approved the bill that 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 our surrounding countries. This is the result of so many peoples' efforts involved that have been working behind the scenes for many year 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.”