Bauzá: "The elimination of the matriculation tax means an end to a disadvantage"

The president of the Balearic Government, José Ramón Bauzá, assured this Wednesday that the elimination of the matriculation tax on charter yachts represents "an end to a comparative disadvantage" in relation to other tourist destinations.

He made these declarations during the inauguration of the conference ´Elimination of the matriculation tax on charter yachts: boost to the economic activity´, and added that nautical businesses can now establish fiscal residency in the Balearic Islands in equal conditions to the competing destinations.

"For this Government, the strategic character of the nautical sector is unquestionable, because of the high potential of growth and generation of wellbeing and jobs", he manifested before stating that the nautical sector generates a business volume of around 800 million euros, of which over 200 correspond with the area of construction and reparation of vessels.

During the conference, Bauzá indicated that the elimination of the matriculation tax on recreational yachts over 15 m destined to charter and approved in the Congress in October last year, " is an important measure adopted by the central Government, a measure demanded both by the Balearic Government as well as the sector itself, aware of the importance that this elimination will have for boosting the nautical activity and for the tourist services in general".

The president declared that this initiative means an end to a comparative disadvantage in relation other tourist destinations, where the nautical sector is considered more important than here.

"MANY COMPANIES CAN ESTABLISH FISCAL RESIDENCY IN THE BALEARIC ISLANDS"

"Now, many companies can establish fiscal residency in the Balearic Islands in equal conditions to competing destinations. And this will undoubtedly result in an increase of direct and indirect income, and will activate the maintenance and repair of super yachts in our community, with a consequent creation of jobs", he said.

Along the same lines, he emphasized the importance of working towards making the Balearics the leading destination based not only on the number of entering yachts but also for all the associated services.

Read the complete article in Europa Press.