The Ministry of Treasury and Public Administration Services, on the proposal of the Ministry of Public Works will modify, through a Law, the Special Tax on Certain Means of Transport (IEDMT), popularly known as the "Matriculation Tax". The elimination of the tax is applied to recreational yachts above 15 destined to commercial use.
The Special Tax on Certain Means of Transport, regulated in the Law of Special Taxes, levies a tax of 12% of the value of a private yacht above 8 m and commercial yacht above 15 m on its first registration.
Spain is the only country amongst our neighbors that levies this tax, on top of the VAT, which means a loss of competitiveness of our charter sector. The yachts dedicated to the activity of charter limit their stay along the Spanish coast and in Spanish ports during the season, and avoid staying here in the winter, resulting in de-location of the companies that do business with these yachts.
This modification of the tax is expected to improve the competitiveness of Spanish charter sector, with a consequent positive effect on the national tourism, specially along the Mediterranean coasts. Besides, the modification will encourage these yachts to spend the winter in Spanish ports, which will create economic activity derived from their maintenance, repairs and refits, provisioning, etc.
At the moment "nautical tourism" is estimated to generate approximately 170.000 jobs and contributes 0,88% of the Gross Value Added of the Spanish Economy. The recreational vessels above 24 meters have an annual expenditure of between 0,8 million euros in the "smaller" sizes, and up to 4 million euros when it comes to the larger ones.
Direct link to press release from the Ministry of Public Works.