
On 31st December 2018, the Spanish Touristic Registration tax regime, which was established in the General Budgets Law passed on 4th July 2018, will come to an end.
The provisions for the Spanish Touristic Registration tax regime are laid down in Royal Decree 1571/1993. It is a sort of Temporary Admission customs regime whereby non-Spanish residents could register a yacht under Spanish flag exempt from VAT (Non-EU residents) or Matriculation Tax (EU residents but not Spanish).
Matriculation Tax is a tax applicable to leisure yachts, new or used, when registered under Spanish flag or when they are intended for use in Spanish territory by individuals or entities residing in Spain or holding establishments located in Spain. The tax levied is 12% of the yacht’s value.
According to the preamble of the Spanish General Budgets Law 2018, the regime would no longer Continue reading “Yacht registration tax relief to end before 2019 in Spain”