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Tax News 2019 - Shipowners

The exception applies to:

• Profits from the use / chartering of ships

• Interest income related to the working capital of the company

• Profits from the disposal of eligible ships

• Dividends received from the above profits at all distribution levels

• Benefits from the disposal of shipowners and distribution

The exemption also applies to the charterer of a vessel flying the Cyprus flag in parallel registration

The tenants

Exemption is provided:

• Profits from chartering ships

• Interest income related to the working capital of the company

• Dividends received from the above profits at all distribution levels

The law grants the exemption provided that the option of registering for tonnage tax is exercised for all vessels and requires a composition: at least 25% (reduced to 10% under conditions) - the net tonnage of vessels owned or chartered aboard.




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