Tuesday, November 3, 2009

Greek Shipping Taxes Policy Will Continue

Minister reaffirms government’s commitment to industry
Shipping News Feature

GREECE - In an announcement made yesterday Greece’s Minister for Shipping confirmed that the nation’s current policy on not charging income tax to shipping companies registered abroad but that have offices in the country shall be continued by the newly elected socialist government.

The Minister, Louka Katseli, said in a speech to a conference in Athens that: “It’s our intention to maintain whatever good things have worked so far for the shipping industry in Greece.

“The tax framework in which Greek shipping has flourished will be safeguarded.”

The minister also announced she plans to launch a study to review why the numbers of young Greeks entering the industry is falling and how to reverse this trend.

Greece is the world’s biggest ship-operating nation and the industry is the nation’s second biggest business after tourism, accounting for approximately 7% of GDP. As a result the news will be welcomed by both the companies involved and in many ancillary industries, especially in the face of a new 48-hour strike by dockers at the main Greek port of Piraeus.

This is part of an ongoing dispute that has raged for several months which has repeatedly disrupted traffic at the port and caused consternation amongst Greek shipping circles.