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Government of Spain notifies Brussels of a new “tax lease” regime for financing shipbuilding
The Government of Spain has sent an official Notification to Brussels regarding a new fiscal regime for the financing of shipbuilding. The so-called “tax lease” regime replaces the previous system used by the sector until June 2011, when its application was suspended due to the launch of an investigation by the European Commission.
“Tax lease” systems are a fundamental instrument in the commissioning of new ships, the various forms of which are regularly used by European countries in shipbuilding. The fact it has been impossible to use the system since June 2011, together with the consequences of the economic crisis and significant fleet reductions, has led to significant difficulties in the Spanish shipbuilding sector over the last 12 months.
The system referred to in the Notification, jointly drafted by the Ministry of Industry, Energy and Tourism and the Ministry of the Treasury and Public Administration Services, comprises measures of a general nature (not specific to the navy sector) and therefore cannot be considered a form of State aid. The Government of Spain expects a positive response from the European Commission as soon as possible to enable the sector to resume normal operations.
The system will not be applied immediately as it is necessary to wait for the obligatory deadlines in the European administrative procedure, as well as the time needed to make the pertinent amendments to Spanish legislation.
30,000 people depend on the navy sector in Spain, of which 8,000 work directly in the areas of shipbuilding and repair while another 12,000 work for ancillary industries at shipbuilding facilities. The rest work for direct sector suppliers.
Source: lamoncloa.gob.es
- Fiscal Advisor Marbella, Lawyers in Marbella, Tax Advice Marbella,