OneOcean Port Vell Barcelona, has been granted a permit to extend the TPA tax free benefit scheme to yacht owners berthed at the marina during their stay.

Traditionally only applicable for yachts in ship yards, OneOcean Port Vell has now become one of only a few European marinas where the VAT exemption can be granted, offering a substantial advantage for owners undertaking winter works.

The works and materials can be paid exclusive of VAT when completed within the approved TPA window, and will allow for large savings for yachts which undergo repairs, maintenance and improvement works at OneOcean Port Vell.

The TPA permits a tax free bubble working in tandem with the fiscal authority for non EU flagged yachts that are completing repairs and improvements whilst in the EU, without causing pollution. As a marina, OneOcean Port Vell does not offer full shipyard services and there are restrictions to what works can be carried out, however normal maintenance work, interior, mechanical or electronic/electrical works are among those possible.
The yacht is required to submit itself to an approved administrator that will oversee all yacht servicing and invoicing, and provide the fiscal authority with reports before, during and after the project is finalised.

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MS ANNA SMITH

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