European Commission approves new tonnage tax scheme in Portugal.
Portugal
European Commission today approved a new tonnage tax regime in Portugal.
The European Commission today approved the creation of a national tonnage tax regime (tonnage tax) thus validating the arguments of the Ministry of the Sea on a new 'tax and contributory scheme which, together with the simplification and of increased efficiencies, boosts the growth of the national merchant fleet and maritime employment, "the ministry said this afternoon.
The new regime for the commercial navy, which will run for 10 years, provides that maritime carriers pay their taxes based on net tonnage (fleet size) and not on their taxable profits, as is currently the case. The tax to be paid may range from 20 to 75 cents per day for every 100 net tonnage. As far as maritime operators are concerned, the tonnage tax will be applied mainly to revenue from the carriage of goods and passengers, dredging and towing, with a benefit of up to 20% (in taxation) covering vessels that demonstrate the highest degree of environmental sustainability. In order to benefit from the tonnage tax regime, carriers must have a significant part of their fleet (at least 60% of the net tonnage) inscribed in an EU or EEA management of vessels to be carried out from the EU and the EEA.
Chartered vessels may also be covered by tonnage tax, provided that their tonnage does not exceed 75% of the total fleet of the maritime operator. More: crews should be composed of a minimum of 50% of Portuguese, Community, EEA or Portuguese speaking countries. In order to support and encourage the recruitment of professionals related to the Sea sector, the scheme now approved by the European Commission exempts the payment of IRS from seafarers working on vessels eligible under the tonnage tax.
Commissioner Margrethe Vestager, responsible for competition policy, said in the wake of these new developments that the measures adopted by Portugal adopted this Friday 'will help the European Union's maritime transport sector to remain competitive on the world market, while protecting knowledge and jobs in this sector '.
