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Greek Shipowners Agree To Voluntary Tax Payments

By Amanda Banks, Tax-News.com, London

23 July 2013


Greece's Prime Minister Antonis Samaras has praised the patriotism of Greek shipowners, following the signing of a voluntary agreement that will see 441 shipping companies make extra revenue payments over a three-year period via the Tonnage Tax on cargo.

The measure will apply to 90 percent of ships flying the Greek flag, and to 65 percent of Greek-owned ships flying foreign flags. It is hoped that between EUR75m and 140m will be generated each year.

Theodoros Veniamis, who heads the Hellenic Shipowners' Association, said that the Union had sought to bring together all shipowners into the agreement, whether or not they were members. He told Samaras that shipowners wished to repay Government support and love for the industry.

Greek governments have historically been fearful of taxing the shipping industry, in case companies simply relocated abroad.

TAGS: tonnage tax | tax | marine | Greece

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