President's Letter - July 2012

Dear partners,

Behind us is a pretty busy June and it is not yet high season. Today, as well as the heat, has not given us respite. This past month much has been happening, news about the moorings on seagrass meadows and the question of whether also charge for anchoring on sand (an outbreak of controversy quickly faded, as the whole sector to be positioned against) . Also this month is marked by the words of the president Bauza at the opening of the conference "The Future of superyachts", who said Madrid would lead to the proposal to eliminate the matriculation tax on charter boats.

It is good to start with what we believe is great news: that the regional president of our community to become engaged in public to fight a tax against which we fought so long. The news appeared on the "Future of the Superyacht VII Conference" in Palma. The president of the Government said about the problems of the marine industry in the Balearic Islands and Madrid announced that it would eliminate the proposed registration tax to charter boats, a tax that leaves us at a disadvantage against other competitors around us having more to offer. To say that this is a clear case of unfairness, and that neither the charter of aircraft or car rental this tax applies. Since we value AENB thus we expect to be treated in the same way and to eliminate this tax as quickly as possible for the sake of the Balearic economy and companies, because we will never tire of saying: this tax deters tourists and we lose much more money than it collects.

Video Portals Nautical Weekend

If you could not go to Portals Nautical Weekeend our friends from Nautical Television Europe show you how it was

Documentary Sea Grass

A short documentary produced by Nautical Television Europe clarifying the law on boat anchoring in coastal waters of Mallorca

President of The Balearics speaks out about mat tax in Spain

For the first time ever, a senior Spanish politician has spoken clearly and directly in English about the importance of abolishing the 12%matriculation tax which uniquely burdens the purchase of all yachts over 8 metres registered under the Spanish flag.

Sr. Jose Ramon Bauza was interviewed by Patricia Bullock for Nautical TV Europe (NTVE) after he delivered the opening address at the 6th annual Future of Superyachts Conference in Palma de Mallorca earlier this week.

Sr. Ramon said that the Partido Popular, Spain's ruling centre right party, were well aware of the damage being caused by this prohibitive tax, both at regional and national level.

Bauza seek the abolition of registration tax of charter boats

The Nautical Association of the Balearic Islands (AENB) was present throughout the day in the Future VII of the Superyacht Conference, an event of great importance internationally attended by the elite of the marine industry to discuss and make networking. The conference focuses on legal, financial, tax, construction and design.

The president of the Government, Jose Ramon Bauza, was the first speaker after the presentation of the day. In his speech he announced his intention to seek the abolition of registration tax of charter boats. He does it because "it is necessary fiscal and legislative framework which we equate to other competitive markets such as France or Italy." He has also stated that "it is necessary to modernize and create infrastructure for location, maintenance and repair of mega yachts" to remain at the forefront in terms of services.

Superyacht-focused Spanish tax report calls for legislative changes

An official study and report on the Spanish Matriculation Tax published by Asociacion Española de Grandes Yates (The Spanish Association of Superyachts) has revealed the damaging knock-on effects of Spain’s tax system on its economy, with focus largely on the superyacht sector and its potential for economic growth.

The study and report was commissioned by the Mediterranean Yacht Broker Association (MYBA), Asociación Nacional de Empresas Náuticas (ANEN), Asociación Española de Grandes Yates (AEGY) and the Asociaión de Empresas Náuticas de Balearaes (AENB). 

Spain has a 12% additional tax on the first definitive registration of recreational boats (both new and used) larger than 8m and intended for private use (for charter-registered vessels the length is 15m), and combining the non-deductible registration tax with VAT, the Spanish tax adds 30% to the purchase of any recreational boat (compared to the approximate 20% tax in Italy and France). 

Balearic loses millions because of the tax on large yachts

The Balearic economy is losing each year between 3 and 6 million euros due to the reluctance of the large yachts chartering in the Balearic Islands due to the tax paid, only in Spain, on vessels over 15 meters.

This was stated the by the President of the Nautical Association of the Balearic Islands (AENB), Margarita Dahlberg, on the occasion of the celebration in Palma of the conference "The future of superyachts" which has been opened by the President of the Balearic Islands, José Ramón Bauzá.

Spain is the only country in Europe where charter boats over 15 meters in length which are able to work or are rented to residents are taxed at the special tax on certain means of transport, known as the registration tax (RT). The tax rate is 12% of the value of the yacht.