Spanish Yacht Charter Registration Tax Repealed
Spain has lifted its 12 percent registration tax on yacht charters which had been levied along with a 21 percent VAT, an arrangement the industry identified as double taxation.
Carlos Sanlorenzo, Secretary General of Spanish industry association ANEN, expressed satisfaction with the reform:
The involvement and support we have had from the Directorate General of the Merchant Navy in recent years has been instrumental in achieving this outcome. The Ministry of Finance has now given the green light for the elimination of the registration duty on charter sailing, removing the onerous combined tax rate [of 33 percent] in recognition of the benefits to the economy of pleasure yachting, and the sector's tax contribution.
ANEN estimates the yachting industry contributes €5.69 billion to the Spanish economy each year.
