, 2022-09-21 09:30:10,
Evolution Yacht Agents explains how non-EU yachts can gain 21% tax relief under TPA while moored in Spain…
The lure of the Mediterranean and beauty of the Spanish marinas has long attracted voyagers from far and wide situating itself as a popular yachting destination. A mild climate offering year-round sun-drenched days makes Spain a strategic location for visiting superyachts. However, even after savouring the richness of a Gran Reserva Rioja or trying a bite of the typical Valencian paella, Spanish taxes on VAT can leave behind a sour taste.
TPAs (aka Inward Processing) is a fiscal processing that allows non-EU yachts (and others) to undergo refits and repairs when moored in Spanish shipyards. Yachts under TPA’s enjoy a 21% tax relief on VAT charges on all repairs and maintenance works, including spares and birth occupancy, which extends to invoices from countries registered outside of Spain. Evolution Yacht Agents act as Customs Agent to ensure compliance with Spanish fiscal and Customs requirements. Drawing on their extensive experience of successfully managing over 400 TPA’s, Evolution ensures all legal customs and port authority requirements are met. Additionally, an in-house registered Customs Broker is on hand as part of Evolution’s commitment to assist with no intermediaries.
During a yacht’s refit Evolution’s dedicated team will assist in the entire clearance and Customs procedure with reference to management and…
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