The document discusses yacht chartering in Spain. It notes that Spanish tax regulations make operating in Spanish waters unattractive. Compared to neighboring countries like France and Italy, the superyacht market in Spain is much smaller due to these tax policies. Specifically, yachts over 15 meters that are chartered commercially in Spain must pay a 12% matriculation tax on the yacht's value. Removing this tax could significantly boost the Spanish economy by bringing in over 100 million euros annually and increasing tax revenues.

1. 5th « La Belle Classe Superyachts »
Business Symposium
« Luxury Yachting: a global round-up of 2012
and the international outlook for 2013»
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

2. YACHT CHARTER IN SPAIN
- The Spanish tax regulations make not attractive to operate in Spanish
waters.
- The Spanish authorities do not understand the potential benefits of this
industry.
- Compared with our sorrounding countries, the size of the superyacht
market is very reduced.
SPAIN FRANCE ITALY
TURNOVER (M€) 857 1.376 (+61%) 2.240 (+161%)
EMPLOYMENT 5.682 8.830 M€ (+55%) 12.686 M€ (+123%)
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

3. YACHT CHARTER IN SPAIN
- A yacht over 15m LOA intending to be chartered from Spain must pay
the Matriculation Tax on a 12% of its value.
- Total fleet of commercial charter yachts over 24m existing in Spain in
2008.
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

4. YACHT CHARTER IN SPAIN
The loss for the Spanish economy because of the matriculation tax has
been estimated in terms of income as follows:
Operation and maintenance expenditure
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

5. YACHT CHARTER IN SPAIN
Estimated weekly charter incomes for the Spanish economy.
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

6. YACHT CHARTER IN SPAIN
Although there are not official figures, it is estimated that the total annual tax
revenue for Matriculation Tax on Superyachts is between 1 and 2 M € .
A very conservative estimation, in case the tax was removed shows the benefits
for the economy:
- Total income for the Spanish economy 126,2 M €.
i. 50 superyacht (average lenght) 40m = 113,5 M €.
ii. charter income 30 superyacht of 45m, 60 SY of 30m, 6 weeks = 12,7 M.
- Spanish treasury total income (VAT, Corporation Tax, Personal Income Tax)
Considering a 15% revenue 18,93 M€.
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

7. YACHT CHARTER IN SPAIN – MATRICULATON TAX
The Special Mean of Transport Tax established by the Special Tax Act 38/1992 is a
tax levied at a 12% rate on a mean of transport value to be used by residents or
entities residents in Spain or having an establishment in Spain.
Any craft to be commercially chartered in Spain through a Spanish company or
via a permanent establishment of a non-resident company is liable for the
mentioned tax.
Permanent establishment (a difficult concept):
- Agents
- Legal representatives
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

8. YACHT CHARTER IN SPAIN – MATRICULATON TAX
The provision established in the D.A.1 of the 38/1992 Act:
“Shall be registered in Spain a mean of transport to be used by residents
or entities residents in Spain or having a permanent establishment in
Spain”
Dangerous: Spanish guests on board - stricts controls.
Exception: professional crew.
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

9. YACHT CHARTER IN SPAIN – MATRICULATON TAX
There have been several attempts to remove the tax.
1. REBECA – Offshore Canary Islands Register (failed attempt)
i. Commercial yachts + 100 GT
ii. No VAT jurisdiction, but yes Matriculation tax.
2 .Resolution of the European Comission (2011)
Matriculation tax should be applied proportionally to the use of
a commercial yacht in Spain.
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

10. YACHT CHARTER IN SPAIN – VAT
- Charters starting in Spain – VAT is due in Spain.
Compulsory to register directly or appoint a Spanish representative.
- Charters starting in another EU State – no Spanish VAT.
- Charters starting outside the EU and entering Spain – VAT on Spanish part of
the journey.
- In Spain does not operate the "use and enjoyment”exception (59a Directive
2006/112/EC)
- Charter not allowed under temporary importation.
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

11. YACHT CHARTER IN SPAIN – PERMISSIONS
Charter licensing in force.
- EU flagged yachts freedom to establish and develop charter activities.
- Non EU flagged yachts special permission.
(confussion charter yachts with no VAT accounted vs Non EU flagged yachts)
Administrative authorization: Spanish Maritime Authority (DGMM)
Local authorization: in some regions is necessary to obtain permission from the
local government, i.e: (Balearic Islands).
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com

12. YACHT CHARTER IN SPAIN – Thank you.
Alex Chumillas Amat
Partner
alex@taxmarine.com
Skype: alex.chumillas
+34 667663521
www.taxmarine.com
Tax Marine - Barcelona tax & law, S.L. - Yacht division
Marina Port Vell - Barcelona - Spain
www.taxmarine.com