The Netherlands' State Secretary of Finance, Jan Kees De Jager has said that the tax system afforded to those investing in maritime activities may be revised to avoid unintentionally providing the industry with tax relief twice.
The announcement follows the government’s decision to allow businesses to offset purchases of certain assets against their tax bills in 2009 and 2010, in equal 50% segments.
The decision allows businesses involved in maritime activities to offset the purchase of vessels against their future tax bill. The government considers that allowing this measure on top of the tonnage tax system will mean that the shipping industry will be disproportionately supported.
It is understood that the government will exclude maritime businesses that have been operating under the tonnage tax regime for a period of less than ten years from qualifying for the recently introduced tax concession.
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