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Tax authority overrules Monjasa tonnage tax

The Danish tax authority SKAT has demanded millions of dollars repaid from bunker company Monjasa, but the case will now go to court. The Danish Shipowners' Association agrees with Monjasa.

Denmark's tax authority SKAT has overruled bunker company Monjasa's right to use the advantageous Danish tonnage tax scheme, and the authority has also demanded repayment of a million dollar figure. Monjasa has responded by taking the matter to Denmark's Tax Appeals Agency.

According to Monjasa A/S' 2014 annual report, the case will cost the company USD 4.6 million, covering the additional tax payments for the period 2010-2013, as Monjasa - according to SKAT's ruling - is subject to standard corporate taxation.

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