STAFF REPORTER

CUSTOMS officers from the tax office yesterday inspected some 30 luxury yachts moored in Puerto Portals and Port Adriano as well as a number of offices as part of an investigation into the alleged non payment of IVA (VAT).

According to sources close to the case, the investigation was launched a couple of months ago and customs claim to be on the trail of 30 million euros of allegedly unpaid VAT.

Apart from the alleged non payment of VAT, customs are also looking into alleged matriculation tax fraud as well.
The customs officials spent all of yesterday morning and some of the afternoon inspecting yachts and nautical related businesses in both ports investigating the chartering and buying and selling of yachts.

All of the yachts, some of which are worth millions of euros, inspected are registered overseas and many were flying non-European Union flags.
Sources close to the investigation said yesterday that the probe is far from closed and further inspections are going to be carried out over the coming weeks. Not only in Portals and Port Adriano but other marinas as well.

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