Consultancy
Tax and customs investigations assistance
Our team is dedicated to securing the best possible outcomes for you. We guide you through the process, negotiate with tax and customs authorities and represent you before the administrative tax tribunals. By managing interactions with tax authorities on your behalf, we ensure a streamlined resolution, minimizing both hassle and cost. Whether you are facing an investigation or need to proactively disclose a tax issue to Spanish authorities, we assist in securing the most favourable terms.
Compliance consulting on sales
The sale of a yacht or an aircraft involves taking both buyer and seller through a legal process of contracts, surveys, trials, title, registration, and tax considerations. This is especially complex in Europe where transactions might have a multiple jurisdiction effect. We assist our clients that the documentary aspects of the transaction are handled correctly, verifying the correct VAT and customs status of the assets.
As part of our compliance services we provide consultation, drafting and provision of sale and purchase agreements, conduct yacht title searches to check against mortgages and any other liens or encumbrances, conduct checks on good standing of the seller in the case of a corporate structure, escrow services, attendance at completion meeting/handover to accept delivery of title to the yacht.
Compliance consulting for berth sales
When it comes to the leasing of a mooring or berth, it’s crucial to understand that, according to this transaction is not categorized as a supply of goods for VAT purposes. Instead, it is recognized as a supply of services, subjecting the fees associated with leasing or letting a berth in a marina or harbour to VAT at the Spanish standard rate. However, certain circumstances may warrant an exception, leading to the inapplicability of VAT and the imposition of Spanish transfer tax instead.
Furthermore, the acquisition of a berth has potential implications for your yacht, potentially triggering a matriculation tax liability, a non-harmonized Spanish tax, levied on the registration or use of a yacht in Spain and imposed at a rate of 12% based on the yacht’s value. Therefore, it is a critical consideration when contemplating a berth rental or a long-term investment.
Let us help you with your tax issue
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