EC Targeting Greece on Tonnage Tax for Yachts

The European Commission is saying Greece may have breached state aid rules on how it operates tonnage tax by favouring shareholders. Tonnage tax allows a State to tax a shipping company according to its tonnage rather than calculated profits. The EC is asking Greece to better target its tonnage tax, review which vessels are eligible and exclude fishing vessels, port tugboats, and yachts rented out to tourists without a crew.

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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