Spain’s industry association ANEN has announced that the Spanish government has introduced further modifications to the tax registration scheme in the country.

ANEN has released an statement with its interpretation of the new law, which has been made in conjunction with law firm Garrigues Abogados. In the statement ANEN explains that the amendment of the rule establishes the exemption of registration tax, and reduced rates for yachts in the charter sector proportionate to the use of the boat in Spain.

The addition of this new case of exemption and proportionate rates has “eliminated one of the greatest obstacles to conducting charter business in Spain,” says ANEN in a statement.

Yachts will be exempt from registration tax if they are for charter purposes in Spain rented by Spanish-based companies but registered in an EU Member State (other than Spain) from suppliers (craft owners) from another Member State (other than Spain, or even than the state where the craft is registered) for a period shorter than three months.

Under the same structure, and after the first three months of use of the craft in Spain, the registration tax will apply proportionally to the use of the boat in Spain. Thus, reduced registration tax rates will be applicable.

ANEN points out in the statement that accordingly, private use of the craft by its owner in Spain or in any other state would be allowed, but not in the term it is rented out.

A meeting with the Directorate-General of Taxes for the tax authorities is scheduled to clarify and confirm ANEN’s interpretation of the law.

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