Spanish Contribution at Monaco's Captain's Forum.

Online, September 20, 2010 (Newswire.com) - Among the events organized around the Monaco Yacht Show, the Yacht Club de Monaco has organized this year a conference with the participation of tax experts from several Mediterranean countries. The aim of this meeting is to explore and discuss the different tax and legal frames of these countries and analyze the existing barriers that somehow limit the development of the Superyacht industry.

Alex Chumillas Amat, Spanish yacht tax expert will provide a vision of the current situation in the Spanish market. Chumillas, who already has participated as speaker in previous editions of the Superyacht Forum in Palma de Mallorca or in the Barcelona Boat Show, contributes regularly to international magazines providing the latest trends and news about the Spanish tax situation. He has had the opportunity to contribute to Mr. Filippo Lorenzon & Mr. Richard Coles book "Law Yachts and Yachting" giving some light about the way tax are applied and enforced in Spain.

In his participation Chumillas will talk about one of the historical demands of the industry in Spain, basically focused on the necessity of removing the Matriculation Tax for foreign flag chartered boats of more than 15 meters length. Demand long time claimed by Spanish National Industries or political parties, such as Unió Mallorquina, among others. It is estimated that the existence of this tax represents an income lost of 5,2 million Euros per week, without considering the indirect income generated by this type of tourism and the employment creation associated which might help the damaged Spanish economy.