SuperyachtNews.com – Operations – Peace of mind for TPA
A complex process facing many vessels this season, Evolution Yacht Agents demonstrates its expertise in navigating this procedure in Spanish waters …
For yachts taking advantage of the overhaul and repair facilities in Spain after a busy summer season, Evolution Yacht agents can act as customs officers and liaise with the authorities where the yachts are performing refit work. condition and maintenance. TPA (also known as Inward Processing) is a tax scheme that allows qualifying yachts to benefit from a 21% tax exemption, avoiding VAT charges on repair and maintenance work carried out on board.
There are several benefits available to yachts doing renovation work in Spain, and these significant savings attract a notable number of non-European yachts to the region to work there. For captains, general managers and management companies, Evolution Yacht Agents provides complete peace of mind when navigating this complex process and has worked successfully with over 350 TPA. “We have acquired the knowledge to guide the crew, management and sub-contractors through the process ensuring that all invoices and TPA services are fully compliant with current Spanish tax and customs requirements” said Bea Alonso, CEO of Evolution and Authorized Customs Officer. .
Bea explains that one of the most common mistakes relates to the complexity of the ship’s spare parts. âFor new customers, it’s difficult to keep up with the number of requirements we have from customs for spare parts leaving the ship or spare parts that need to be disposed of,â he notes. she.
Since its inception, the company has worked with over 350 yachts through the TPA process and plans to support over 30 this season. âI have used Beatriz and her team at Evolution for the past 12 years for the M / Y Integrity TPA. They run a very professional team and I would not hesitate to recommend them to any yacht, âremarks Captain Brendan Furey. “They are also the only agent I know of in Palma that has a bonded warehouse, which is a huge bonus for any yacht doing a major overhaul.” The warehouse is a space of 2,500 m2 and is the first of its kind in the Balearic Islands. It is the ideal storage solution to avoid paying import taxes for goods such as materials or spare parts coming from outside of Europe. In addition, the team provides assistance in all ports in Spain, no matter where the yacht is moored.
âEvolution has a lot of dedication and passion for this process. We love the exemption process, âsays Bea. âWhat sets us apart from our competitors are our continuous improvements to show Customs the transparency of the process and also to ensure that our customers feel safe. While the yachts are under TPA, the boat technically does not use the temporary 18-month period granted to non-European vessels, allowing for a greater opportunity to explore Europe when the work is completed and the owner (or the chartered customer) is on board.
TPA support is just one of the many services the Evolution team offers to yachts in Spanish waters. Its full range of specialist superyacht support includes charter licensing and legal advice, customs and logistics operations, inland provisions and supplies, deck and engineering supplies, and crew services. and VIP.
Evolution yacht agents
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