Spanish Matriculation Tax Update
Confirmation finally came late last week that the Treasury Commission of the Spanish Congress has approved the bill regulating the Matriculation Tax exemption for charter yachts.
Following huge efforts from professionals within both the yachting and tourism industry, plans have now been approved to remove the Matriculation Tax for luxury charter yachts that was introduced several years ago. This marks a very positive step forward for the Spanish tourism sector that is set to see a significant boost to the local economy as well as charter clients looking to enjoy cruising vacations in the region.
The elimination tax will apply to luxury yachts over 15m/49’2 and having now been agreed and dispatched from the Spanish Congress to the Senate, is expected to be approved by the 10th October. Once the Law proposal is approved, it will be published in the State Official Gazette (BOE) and will then be enforced from the following day with an estimated action date of around the third week of October.
Charter clients looking to book a Mediterranean luxury yacht charter in Spain will still need to obtain a charter permit and Matriculation Tax exemption certificate in order to cruise in the region. For more information contact your preferred yacht charter broker.
This marks a very positive step forward for the Spanish tourism sector that is set to see a significant boost to the local economy as well as charter clients looking to enjoy cruising vacations in the region.