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Fiesta is a word that springs to mind now that Spain has approved the Matriculation Tax law
Alex Chumillas of Tax Marine in Barcelona’s Marina Port Vell tells us the Spanish Congress of Deputies has approved the bill, with reference number 121/000054, adopting measures regarding tax and environmental issues and adopting other tax and financial measures.
The bill 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 metres 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.
The tax amendment will allow Spain to participate in this market in the same conditions than our surrounding countries. It is expected to see the effect of this measure on next year’s 2014 charter season.
For further information, visit Yachting Legal Guide in Spain.
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