EU Changes Upset UK Tonnage Tax
Draft EU Guidelines on state aid to maritime industries, due to be accepted by member states by the end of June, create uncertainty and problems for the UK Tonnage Tax Scheme according to shipping accountants and business consultants Moore Stephens London . The new guidelines, which will enter into force on 1 July 2005, will oblige owners with fleets in the UK Tonnage Tax Regime toincrease the proportion of their vessels under an EU flag.
Draft EU Guidelines on state aid to maritime industries, due to be accepted by member states by the end of June, create uncertainty and problems for the UK Tonnage Tax Scheme according to shipping accountants and business consultants Moore Stephens London . The new guidelines, which will enter into force on 1 July 2005, will oblige owners with fleets in the UK Tonnage Tax Regime toincrease the proportion of their vessels under an EU flag.
