Tax Changes Impact on Hellenic Shipowners

By Finance

A tonnage tax has to be paid by Hellenic shipowners working under foreign flags and their companies are based in Greece or offshore firms with a branch in the country.
One big part of the Greek fleet sails under foreign flags and will be hit by the new tonnage tax regulations.
Not only the ship owners will pay the tax but also and the management companies. The shipping sector companies are obliged to pay more taxes. These new regulations affect ship brokers, insurance brokers, agents, average adjusters, charterers and others, irrespective of whether they provide services to ships under Greek or foreign flag, but exclude ships trading on purely domestic routes and some passenger ships.
There will be also levies on remittances of foreign currency based on scales.