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The Spanish maritime administration interpreted that the large charter yachts registered in the Canary Island Special Register (REBECA) are not subject to matriculation tax. In our opinion this interpretation may be extended to yachts from other flags or registry.
Charter boats over 15 meters in length with base in Spain or rented to Spanish residents are subjected to the special tax on certain means of transport, the well known Spanish matriculation tax (MT). The tax is 12% of the value of the yacht.
A recent report of the Maritime Directorate legal services, interprets commercial yachts registered in REBECA are not taxable. REBECA is a second Spanish register. Commercial yachts of 100 GT or more are eligible to this registry and allows some important tax advantages for the owners and crew.
According to a press report provided to the media, the maritime administration interprets that yachts being used by ship owners for profit or commercial purposes are not considered recreational crafts and they do not perform private navigation, and therefore are not subject to MT. It is a novel interpretation in which yacht owners who register their yachts in REBECA can enjoy.
If it is confirmed that the yachts registered in REBECA are not taxable because they do commercial navigation, despite having yacht characteristics, we understand that such interpretation is extended to all charter yachts operating in Spain, regardless of where they are flagged, so they would not be subject to MT.
Contact us for any enquire
February 2011
Yamandu R. Caorsi
Lawyer at Blas de Lezo Abogados
Yachting tax and legal consultant in Spain
www.nauticalegal.com
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