Lower Danish offshore tax needs EU approval

The Danish government's proposal to expand the attractive tonnage tax scheme to also cover drilling rigs and drilling vessels will take effect in 2017 if the EU Commission approves of the expanded state subsidies.

An expansion of the advantageous Danish tonnage taxation to also include drilling rigs and drilling vessels could take effect from 2017, but this requires an approval from the EU Commission because it concerns state subsidies. The tax relief is estimated to cost the state treasury gross income of USD 9 million.

In a proposal released by the Danish government Wednesday, "Vækstinitiativer 2015" (Initiatives for growth 2015), it shows that the suggested expansion will be conditional on the approval of the EU Commission following the maritime state subsidy guidelines, and is expected to take effect from 2017:

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