On Friday 6 April, the European Commission approved, for a period of ten years, a Portuguese tonnage tax regime and a scheme to support seafarers, in order to encourage the competitiveness of maritime transport, preserve employment in the sector and promote high environmental standards.
The tonnage tax will take the form of a payment by operators of taxes based on the tonnage of their fleet rather than their taxable profits. It will apply to their core revenue from maritime transport activities, certain ancillary revenues and, under conditions, revenues from towage and dredging. A further reduction of the tax base, of between 10% and 20%, may also apply to operators whose vessels comply with the highest environmental standards.
To qualify for the scheme, companies must operate a significant proportion of their fleet under the flag of one of the states of the European Economic Area (EEA).
The second scheme will provide for a tax exemption on the earnings of natural persons employed as seafarers on vessels eligible for the tonnage tax. Their social security contributions will also be reduced.
The Commission, which examined these schemes under EU state aid rules, particularly the Guidelines on State aid to maritime transport, considered that they would encourage operators to keep their activities and jobs in the EU, but without distorting competition, and therefore approved them. (Original version in French by Lucas Tripoteau)