13 May 2012

The EU Cyprus Tonnage Tax System

The new tonnage tax system for Cyprus merchant shipping was approved by the European Commission on 24th March 2010.

This simplified tonnage tax system is approved for the first time for an EU member state.  The system provides Cyprus with a competitive advantage  and is expected to significantly contribute to the improvement of the already strong position of the country in the shipping world.

Further information is available on the web site of Department of Merchant Shipping (Republic of Cyprus).

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