Norwegian Tax Refunds for Boat / Ship Owners

Some more details further to my post yesterday re Norway’s scheme for tax refunds for ship owners. The Norwegian state aid scheme allows ship / boat owners to obtain income tax and social security contribution refunds where payments have been made for crews on Norwegian registered ships / boats. The value of this scheme is that since foreign labour is relatively cheap then the higher wages of Norwegian crews are effectively discounted.

This scheme is applicable to certain types of ships / boats which are registered in the Norwegian Ordinary Ship Register and / or the Norwegian international Ship Register.

Wisely, the European Free Trade Association Surveillance (EFTA Surv.) noted that this aid was justified as Norway was facing “aggressive” competition from ship / boats registered in other countries which “do not take much care to observe social and safety rules in force at international level.”

On balance, this scheme has been well received in London and as a Tax Barrister I am, of course, always pleased to see any help to level playing-fields for business.

Eamon McNicholas

Tax Barrister, Accountant

http://www.EamonMcNicholas.com

Advertisements

About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s