GREECE AGREES TO AMEND ITS TONNAGE TAX SCHEME
On 25 November, the European Commission acknowledged the acceptance by Greece of the appropriate measures proposed by the Commission to bring the existing Greek tonnage tax scheme and related measures in line with State aid rules.
In December 2015, the Commission sent a set of proposals to Greece to ensure that State support to the maritime sector complies with EU State aid rules, in particular the 2003 Maritime Guidelines. The Commission had concerns that the Greek tonnage tax scheme and related measures were not well targeted in terms of scope and beneficiaries. Since the measures have already been in place since 1975, before Greece joined the EU, these measures are considered as "existing aid" and subject to a specific cooperation procedure.
In light of the continuous dialogue with the Greek authorities, the Commission decided on 6 November 2024 to partially amend the proposal of December 2015 as regards certain tax benefits relating to dividends and capital gains of shipping companies, as well as the operation of various types of vessels, while maintaining its assessment that these measures are incompatible with the internal market. The Greek government accepted the appropriate measures in mid-November, bringing an end to the cooperation procedure.
CLECAT continues to call for the revision of the Maritime State Aid Guidelines, to ensure that tonnage tax regimes only cover shipping activities, in line with the OECD BEPS 2 Guidelines and the Directive on global minimum corporate tax. This will mitigate the risk of competitive distortions between vertically integrated shipping companies and independent freight forwarders and service providers.
Source: European Commission