Spanish charter market doubles after 12% tax cut
Motorboat & Yachting:The Spanish government’s decision to roll out a matriculation tax exemption has boosted the local charter market.
The market for charter boats in Spanish waters has doubled since the beginning of the year, according to Charter & Dreams. Pressure from the yachting community led the Spanish government to drop its 12% matriculation tax on charter vessels over 24m, as we reported last year.
Twelves months later, Charter & Dreams estimates that twice as many charter boats are now operating in the region than in 2013.
Judith Estrella, owner of Charter & Dreams, said: “Before the tax exemption, only 15 yachts over 24 meters were operating in Spain. “This summer, this figure was doubled and next summer we expect this number to triple, meaning that we’ll have approximately 50 superyachts with licenses to charter in Spain.”
Introduced in 2009, the Spanish matriculation levy on charter boats was the only such restriction in the Mediterranean. It is hoped that the exemption will tempt charter skippers back to Barcelona, the Costa Brava and the Balearics.