EU revises shipping taxation guidelines after Cyprus input on tonnage tax

A European Commission revised guideline – approving the application of tonnage tax – is an acknowledgement of Cyprus' expertise in shipping and in particular ship management, Cypriot maritime officials have said.
After technical input from Cyprus, the largest ship management industry in the world, the European Commission extended the application of tonnage tax – to replace corporate tax – to include apart from ship owners ship management companies as well, which deal both with technical ship management and crew management.

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