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Varadero Valencia offering tax benefits through TPA management service
A few years ago, Varadero Valencia started offering TPA (Inward Processing) management service for its clients with a non-EU flag and owner, who benefit from the tax procedure by avoiding the payment of 21% VAT on yacht refit & repair.
Varadero Valencia introduced this service for yachts that have work performed at the yard to help them with this tax benefit, which is applied to the sum paid for the work carried out.
The IP management service means that if a non-EU yacht goes to Varadero Valencia’s facilities for refit & repair works, the client can avoid the payment of 21% VAT.
To benefit from TPA and launch the process, the yacht needs to be moored at the shipyard and have signed up for the procedure for a maximum of 18 months. Repairs can be carried out once the IP process has been opened, not before, so all parts must be in their original state without having been repaired or unloaded before the opening of the process, which can take seven days until everything has been approved.
One of the requirements to start the process is the list of works to be carried out and, by way of example, proof that the yacht can benefit from IP when it comes to haul-outs, dry docking, relaunches, rigging, sail repair, navigation lights, plumbing, deck works, engine works, propellers, tank cleaning, or mast repairs, among many other jobs.
As for painting, yachts will also be exempt from paying 21% for specific works or full paint jobs, including the antifouling, preparation material and labour provided by Monzó Yacht Painting, the company in charge of carrying out these jobs at Varadero Valencia. Monzó boasts a team of professionals with extensive experience and implements a strict quality control system to guarantee the success of all its projects. The same goes for carpentry work, with The Carpentry in charge of this area at Varadero Valencia, offering excellent deck and interior finishes.
Varadero Valencia has a haul-out capacity of up to 300 tonnes and offers an end-to-end service including advantages such as collecting the yacht from its home port for repairs, returning it once repaired to its berth, and the so-called Yacht Inspection Test (ITB, in its Spanish acronym), which is a very important seaworthiness test, particularly just before the summer season.
For more information, call Varadero Valencia on
+34 96 367 44 84 or send an email to email@example.com