Dear Islanders,
I start with two pretty strong rumours.
The first is that the local taxmen, following an initial blitz last year, will be continuing (with vigour!) their investigations into any tax evasions in the yachting scene.
These are primarily on transfer of ownership of yachts and chartering.
The rumour goes further and deeper however as the men in grey suits may well look into the domicile of yacht crew and their tax status!
On the latter point I hope to have an article in the next issue showing some ways of legally avoiding (not evading) local taxation on income by yachtcrew.
The second rumour (I´ve seen some documentation) is that insurance companies covering non-US flagged yachts may introduce an exclusion clause in the employment of US nationals.
I´m told this is purely on the grounds of the litigious nature of US citizens aided and abetted by the ´ambulance chasing´ US lawyers.
Our ´friends´, Fires i Congressos de Baleares (those who bring you the ´international´ boat show in Palma) have come up with another wheeze to extract money from the local economy; a ´second-hand boat show´.
I just can´t see the point of it.
Surely Mallorca is a year-round floating second-hand boat show and I can´t see why someone should bother to move his boat and pay extra mooring fees.
For your info they claim to have more than 100 boats in the show and it runs from the 9th to 11th May; 11:00 to 20:00hrs with an entry fee of 4 Euros.
Whilst we´re on the subject of international boat shows all are reporting a decrease in audited visitor numbers.
I´m going to make a prediction that come April the local organisers will announce an increase in (unaudited) numbers of visitors to the Palma show!
Well here we go into the 2003 season- it´s been pretty quiet, if not deadly, for most so far this year.
For instance, one large charter yacht, based here had 12 charters lined up this time 2002- zilch this year!
Let´s hope things will change- rapido!
John Rule