CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Greek Shipping Firms Unhappy With Tax Regime

Greek Shipping Firms Unhappy With Tax Regime

by Lorys Charalambous, Tax-News.com, Cyprus

06 September 2017


Tax regime instability has been cited by Greek shipping companies as a reason why they would consider switching to an alternative jurisdiction, according to a report by EY.

The report, "Repositioning Greece as a Global Maritime Capital," found the lack of a stable regulatory regime and tax issues were "by far" the main disadvantages of Greece as a ship-management location. As a result, more than half of those surveyed would consider relocating their ship management functions, with London, Dubai, and Singapore given as the most favored destinations.

The results of the survey show that 69 percent of respondents saw Greece's regulatory environment as a disadvantage, with tax matters cited as a negative factor by 62 percent of respondents.

Most of the respondents (84 percent) also said that the tax framework was their main concern when considering the jurisdiction of relocation.

Specifically, concerns were raised by survey respondents about plans under consideration by the EU Commission to increase the Greek tonnage tax, apply taxation on dividends and tax transfer or inheritance of shares.

The report concluded that "maintaining a stable tax framework and establishing a favorable tax environment for the relocation of expatriates is crucial for strengthening the position of Greece compared to emerging shipping centers."

TAGS: expatriates | environment | tonnage tax | tax | marine | Singapore | Greece | dividends | Dubai | Tax

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »