Spanish Tax


No sooner had we published the story about how easy it was now to charter yachts in Spain comes news of new potential pitfalls.

Alex Chumillas Amat of Tax Marine in Spain, reports, “There are still many tax issues to be aware of when chartering in Spain, one of the less known potential taxes for charter yachts in Spain is tax on income.”

This issue is especially relevant when the owning company is based in a jurisdiction without a double tax treaty in place with Spain, in this case the owning company might incur an important tax liability of 24% income tax on the charter fee in addition to VAT which is currently 21%.

Those considering the possibility of chartering in Spain this summer, are strongly advised to analyze all the tax and legal aspects surrounding your yacht to avoid unexpected surprises.

Tax Marine can offer a legitimate an adequate tax planning to help all owners and management companies pay only what is legally required.

Tax Marine is the founding member of the Barcelona Nautical Association, has been actively working during the 2014/15 inter-season period with the Spanish authorities to simplify and clarify the tax and legal framework for charter activities in Spain. Among other major achievements our firm clarified with the Spanish Tax authorities the possibility for non-Spanish beneficial owners to use their yachts in Spain and benefit from matriculation tax relief.