EC approves Danish shipping taxation changes

The European Commission has approved an expansion of a Danish scheme to tax shipping companies on their tonnage, the EC said on Friday October 12th.

Under the “tonnage tax schemes”, shipping companies pay taxes on the basis of the size of the shipping fleet rather than on their actual taxable profits.

The EC has authorized Denmark to expand its existing scheme for shipping firms to several new categories. These include including guard vessels and ships servicing off-shore installations.