http://www.theislander.net. 65
BARCELONA AROUND THE REGIONS
[email protected] +34 654 600 622
Yachts Engineering Supplies
Alex Chumillas Amat
Legal and Tax Yacht Consultant
Tax Marine Spain, S.L.
Barcelona Tax Update
The charter season of 2015 is
only a few months away, this
is the second season after the
amendment of matriculation
tax law in 2013 that has
witnessed a very relevant
change for charter operations
in Spain: the possibility for
non EU flagged vessels to
be licensed in the Balearics,
this change will allow not
only EU but Non EU flagged
vessels to operate from the
Balearic Islands. This was
not an option during the last
charter year. Despite this
limitation, Tax Marine was the
first Spanish firm in number of
charter licenses issued for non
EU flagged yachts in 2014,
being able to license yachts
registered in the Isle of Man,
Cayman Islands and the BVI
from other Spanish regions.
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.Notwithstanding these
developments, 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%.If you are considering the
possibility of chartering
in Spain this summer, we
strongly advise you 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.Should you be interested
or require any additional
information please do not
hesitate to contact Tax
Marine Barcelona. ** When available according to local customs regulationsPORT
FORT LAUDERDALE
SAVANNAH
NEWPORT
ST. THOMAS
ST. MARTEN
ANTIGUA
VALPARAISO
BERMUDA (Ireland Island)
CAPE VERDE
AZORES
CANARIES ISLANDS
GIBRALTAR
BARCELONA
PALMA DE MALLORCA
ANTIBES
SANREMO
NAPLES
VENICE
CORFU
PIREUS
ISTANBUL
MALTA
TUNIS
BIZERTE
AUCKLAND
SIDNEY
FIJI
ALGIERS
BIZERTEDuty Free**
628
600
612
828
819
738
750
828
775
644
683
519
662- 555
631
626
630
517
500
661
630
711
711
633
599
615
512
512
Duty Paid
6731106
951- 1304
785
1325
1626
1477
1547
1159
1125
1133
GLOBAL FUEL PRICE GUIDE
Courtesy of: http://www.rossmare.com
Low Sulphur Marine Gasoil
$USD per 1000 litres