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Image header Agence Europe
Europe Daily Bulletin No. 7758
Contents Publication in full By article 30 / 45
GENERAL NEWS / (eu) eu/taxation

Commission authorises British "tonnage tax" regime in maritime sector

Brussels, 13/07/2000 (Agence Europe) - The European Commission authorised a tax system in favour of shipping, notified by the United Kingdom. This regime foresees to calculate the amount in tax on the profit paid by the shipping company based on the net tonnage of each of ship operated by these companies, instead of taxation based on operating profits. This system, voluntarily adopted by the companies, contains a series of measures aimed at avoiding distortions of competition and the social obligations for the beneficiary companies, indicates the Commission in is Communiqué. These companies are notably held to train one EU cadet for each 15 officer posts in existence on the vessels operated by the company, or make a cash contribution to the Maritime Training Trust in respect of each training place they are unable to offer. The Commission feels that this fiscal alleviation measure is permitted under the 1997 Community Guidelines on State aid to maritime transport. The Commission underlines that tonnage tax schemes have previously been approved in Germany and the Netherlands.

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