Connect with us

Conference of Peripheral Maritime Regions of Europe (CPMR)

#StateAid: Commission approves Portuguese tonnage tax and seafarer scheme

SHARE:

Published

8 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

The European Commission has approved under EU state aid rules a Portuguese tonnage tax scheme which, together with a scheme to support seafarers, will encourage ship registration in Europe and contribute to the competitiveness of maritime transport while preserving employment in the sector and promoting high environmental standards.

Under the newly introduced Portuguese tonnage tax scheme, maritime transport companies will pay taxes on the basis of the net tonnage (i.e. the size of the shipping fleet) operated in maritime transport activities rather than on the basis of their taxable profits.

The tonnage tax scheme requires that if a shipping company wants to benefit from the scheme, a significant part of its fleet must fly the flag of a European Economic Area state. Moreover, the newly introduced Portuguese seafarer scheme exempts seafarers employed on vessels that are eligible under the tonnage tax scheme from paying personal income tax. It also allows them to pay reduced rates of contribution for social insurance. The Commission assessed the measures under EU state aid rules, in particular its Guidelines on State aid to Maritime Transport.

Commissioner Margrethe Vestager, in charge of competition policy, said: "The Portuguese measures that we approved today will help the EU shipping industry to remain competitive on the global market, while protecting know-how and jobs in the maritime transport sector."

A full press release is available in PT, EN, FR, DE.

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending