EU Commission approves shipping support in five countries
Reuters
Published Dec 16, 2019 05:56AM ET
EU Commission approves shipping support in five countries
BRUSSELS (Reuters) - The European Commission said on Monday it had approved maritime transport support schemes in five EU countries - Cyprus, Denmark, Estonia, Poland and Sweden.
"The schemes encourage ship registration in Europe and contribute to the global competitiveness of the sector without unduly distorting competition," the Commission said in a statement.
The Commission said that all five countries' "seafarer" schemes would apply benefits to all vessels flying the flag of any EU country. Cyprus and Estonia also have a tonnage tax scheme, with taxation of dividends, which the Commission said ensured the same treatment as for shareholders in any other sector.
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Written By: Reuters
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