Gibraltar boat import duty reduction
Gibraltar boat import duty slashed for leisure boat owners.
The Gibraltar government has reduced the costs of importing new vessels into the country by abolishing the 12% import duty on boats greater than 18 Metres in length and halving the duty for boats under 18Mto 6%. The change will significantly impact the local economy with boatyards and marinas expected to see an influx of boats from neighbouring Spain, where the 12% matriculation charge is still in place. Gibraltar also benefits from tax-free fuel and a stunning climate, making her a very attractive prospect for Superyachts and larger Sailboats. Long-term berthing is available and reasonably priced, so Gibraltars marine industry will no doubt benefit from the change in policy and welcomes the decision with open arms. Anyone thinking of buying a new boat for Gibraltar or anywhere in the Med is welcome to tap into our resources and experience of delivering new boats in here – contact our Deganwy Showroom for details.