Tax Articles

Driving Spain’s competitiveness in the yachting world relies on updating its fiscal framework, especially concerning Value Added Tax (VAT). This might include adopting technical measures that are fully aligned with EU regulations, thereby attracting specialist investment and consolidating a high-value economic activity nationwide.

One such technical measure could be incorporating into domestic legislation the faculty provided for in Article 59 bis of Directive 2006/112/EC. This regulation allows countries to exclude from VAT taxable income that portion of the charter fee that occurs (pro rata temporis) in international waters. This discretionary option has seen successful adoption by Spain’s competitors, such as France and Italy, making it one of the distinctive elements in their yachting offerings.