ShippingWatch

EU challenges taxation for Greek shipping

The longtime special treatment in Greece for shipowners has now gone too far, according to the EU Commission, which has given the Mediterranean nation a deadline to change its tax legislation.

The very favorable tax legislation in Greece, for the country's shipowners and operators, is way out of line in regards to the EU Maritime Guidelines. The lucrative taxation also benefits other companies and stakeholders, even though they are not directly involved in maritime transport, notes the EU Commission, which has asked Greece to reduce the extent of the tonnage taxation as well as reconsider which vessels should be taxed under the normal tax regulation.

This concerns vessels such as fishing vessels, tugboats and yachts rented out to tourists.

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