Spanish tax protests
Matriculation tax on yachts – the 12% tax on those who own them with connections in Spain – is unpopular, and recently there have been a spate of protests from yacht owners objecting to paying it. It is wholly counter productive, driving away many who would otherwise spend time and money far in excess of the paltry sums raised by it. Efforts are afoot to amend the law. We hope those efforts are successful.