Mallorca Yacht Charter Tax to be Dropped

Yacht Charter in Mallorca is looking better than ever since the Especial sobre Determinados Medios de Transport, more commonly known as ‘matriculación tax’, has been axed by the Council of Ministers in Madrid.

In the past an additional 12% of a boats value was added on top of VAT to any vessel over 15m long and it had made Spain and the Balearics a less popular choice of mooring than countries like France in Italy where the tax was not in effect. The announcement was made last Friday and is expected to be approved by the Spanish Parliament and come into effect by the Autumn. There will still be a tax on privately owned boats over 8m but the reduction in running costs for charter yachts could bring more vessels to the harbours and more money from wealthy tourists into the economy.