Stay in touch with the latest industry related developments, news and stories.
6 February 2012
On 12 January 2011 the European Commission has applied for the first time the new rules of the strengthened Stability [...] read more
6 February 2012
Chrysses Demetriades & Co. LLC is pleased to announce that the construction of its new Head Offices in Limassol[...] read more
4 October 2010
Chrysses Demetriades & Co. LLC is pleased to announce that the construction of its new Head Offices in Limassol shall [...] read more
22 April 2010
The European Commission has approved a proposal by the Cypriot Maritime Administration for a special reduced flat tax ("Tonnage Tax") [...] read more
11 November 2009
The Parliament of the Republic of Cyprus has recently enacted amendments to the Cyprus Taxation Laws, in particular the Income [...] read more
| New Proposed Tonnage Tax scheme for Cyprus pre-cleared by the European Commission |
| Thursday, 22 April 2010 |
|
The European Commission has approved a proposal by the Cypriot Maritime Administration for a special reduced flat tax ("Tonnage Tax") for companies engaged in international maritime transport, aimed at benefiting Shipowners, Shipmangers offering Technical and/or Crew management services, and Charterers. Whilst Cyprus has had similar legislation in place and a Tonnage Tax scheme since 1963, the proposed legislation, which is in line with EU state aid rules, is expected to be much wider in scope, and is timetabled to become Law within the next couple of months. Through the new scheme it is proposed that various shipping activities of Shipowners, Shipmangers, and Charterers shall eligible to be taxed under the “Tonnage Tax”, assessed by reference to the tonnage of the vessel(s) – notional profit, within the ownership, management or chartership of such companies. Click here for EU Press Release |
Wildgras Co. Ltd.