Limitation of cash payments between professionals

Next week becomes effective the limitation of cash payments, introduced in the Law 7/2012 of 29th of October about the modification of tax and budget regulations and adaptation of the financial normative in line with the intensified prevention and battle against fraud. Amongst other measures in the Law is also the limitation of cash payments, which we detail in continuation.

In this respect, the article 7 of the above mentioned law establishes that it is not allowed to pay in cash equal or superior amount to 2.500 euros in such operations where one of the intervening participants is an entrepreneur or a professional, (15.000 euros if the payer is a private person who is not a fiscal resident in Spain and does not participate in the operation as an entrepreneur or a professional), breach of which is considered a serious administrative offense. To this effect, as cash payment are considered both national and foreign notes and coins, and bank cheques to carrier or any other medium, even electronic, conceived to be used as a payment to carrier.

Meet our associates: Sea Teach S.L.

SEA TEACH. Silja Teege, the owner and director of this experienced company tells us about the difficulties the charter companies are going through in these moments. She also makes a global review of the trajectory of this company in Cala d'Or.

Could you talk me about the trajectory of the company?

We started being Sea Teach in the year 2000, the moment when we realized that in Cala d'Or there was not any charter company. The taste from yacht comes from my husband who has been with boats all his life and he was qualified before coming to Mallorca.

How have you fared the tourist season that has ended?

It has not been as good as it used to be. Less boats are sold and we notice it in the school because as there are less people that buy boats, less people want to learn boating. And related to the charter side we can tell that our British market has decreased. The German market has been very good and the Swiss market has been fantastic.

Letter from the President - December 2012

Dear Associates,

This past November has been one of the busiest months of the year. With very short time in between the next Palma Boat Show has been presented and the Working Group of the Nautical Sector, consisting of the main associations of the sector (including AENB) and executives of the Public Administration had the first meeting.

In the middle of the month details of the next Palma Boat Show were revealed. The association has inverted countless hours in this project. Already before we knew the 2012 edition was not going to be celebrated, we started to work with all the proposals and suggestions that you passed on to us, searching for a formula that would allow us to créate a viable project, with a capacity to satisfy equally exhibitors, professionals, clients as well as occasional visitors. And above all for the Show to be able to finance itself. The Palma Boat Show will have 9 exhibition áreas; superyachts and brokerage, nautical tourism, marinas and ports, yacht chárter, local and traditional yachting of the Balearic Islands, diving, sea schools, repair and maintenance of boats, recreational fishing and second hand market. As you can see, the intention is to embrace the whole nautical sector. Besides there will be a very appealing programme of activities for the visitors and potential clients.