OneOcean Port Vell Barcelona has been granted a permit to extend TPA tax free benefit scheme to yachts while berthed in the marina.
Traditionally only applicable for yachts in shipyards, OneOcean Port Vell has become one of only a few European marinas where the VAT exemption can be granted.
The works and materials, as well as dockage and power consumption, will be exempt of VAT when completed within the approved TPA window. This will allow large savings for yachts undergoing repairs, maintenance and improvement works at OneOcean Port Vell.
The TPA permits a tax free bubble working in tandem with the fiscal authority for non-EU flagged yachts that are completing repairs and improvements whilst in the EU, without causing pollution. As a marina, OneOcean Port Vell does not offer full shipyard services and there are restrictions on what works can be carried out, however normal maintenance work, interior, mechanical or electronic/electrical works are among those possible.
The yacht will work with an approved administrator who will oversee all yacht servicing and invoicing, and provide the fiscal authority with reports before, during and after the project is finalised.