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Luxembourg Lowers Shipping Registration Levy

by Ulrika Lomas,, Brussels

10 April 2014

The Luxembourg Government has approved a draft grand ducal regulation lowering registration duties, calculated with reference to the vessel's tonnage, on the first registration of a ship in Luxembourg.

The registration levy is calculated with reference to a vessel's tonnage. The Luxembourg Government said that rates penalize owners of larger vessels thereby reducing the attractiveness of the Grand Duchy's public shipping register.

The proposed legislation seeks to bring first registration levies in line with registration renewal fees. Although the new rates will remain high relative to tariffs applied in other countries, the revisions will close the competitiveness gap that has emerged, and in so doing help to boost the number of ships flying Luxembourg's ensign.

Under the Maritime Act of November 9, 1990, to be eligible to register in Luxembourg a vessels must have a tonnage of at least 25 tons and be less than 15 years old, and used for carrying out commercial shipping activities.

The Grand Duchy may grant an exception to the age limit provided that the ship has undergone significant design changes on the condition that it conforms to the standards applicable to new ships, as laid down in international conventions.

The law requires that these ships are more than 50 percent owned by European Union (EU) nationals or by commercial companies that have their seat within the EU.

TAGS: tax | marine | law | tariffs | Luxembourg | fees | legislation | standards | regulation | Europe

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