Oct 18 2013
EC to maintain maritime state aid guidelines
The European Commission (EC) has decided to retain the current form of the guidelines relating to state aid to maritime transport, which include EU tonnage tax regimes. The decision follows an EC review of the guidelines and has been formally communicated to the European Community Shipowners’ Associations (ECSA).
The international accountancy and shipping advisory firm Moore Stephens welcomed this announcement. The company said that this was "extremely good news for the shipping industry, both in the UK and elsewhere in the EU", as the sector is facing severe competition from countries such as Singapore. It means shipping companies can now rely on a stable tax regime for the foreseeable future.
Source: ITJ