Brussels, 24/03/2010 (Agence Europe) - On Wednesday 24 March, the European Commission approved a proposal by the Cypriot government to impose a special reduced tax on companies engaged in international maritime transport, to replace the corporate tax. It found that the scheme, which exists in several other EU countries, will enhance the competitiveness of the Cypriot fleet without unduly distorting competition.
The Cypriot government has notified a tonnage tax measure for companies engaged...