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European Commission accepts Greece's measures to bring its tonnage tax scheme in compliance with State aid rules

Measures initially introduced by Greece to support its shipping sector

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November 25, 2024

The European Commission (EC) on November 24, 2024, recorded Greece's acceptance of measures proposed by the EC to align Greece's tonnage tax scheme and related measures with EU State aid rules. These measures were initially introduced by Greece to support its shipping sector.

The EC release explains the cooperation between the EC and Greece as follows:

  • The EC in December 2015 proposed changes to Greece's tonnage tax scheme, expressing concerns about its scope and beneficiaries. The scheme, in place since 1975, is considered “existing aid” and subject to a specific cooperation procedure.
  • The EC on November 6, 2024, amended its proposal, focusing on tax benefits related to dividends, capital gains, and vessel operations, while dropping proposals related to inheritance tax exemptions.
  • Greece on November 14, 2024, accepted the proposed measures.
  • The EC on November 24, 2024, formally recorded the acceptance, concluding the cooperation procedure.

This alignment does not preclude State support for the shipping sector, as the Maritime Guidelines permit certain fiscal measures for maritime transport companies, such as tonnage tax, which offers tax predictability and potentially lower taxes.

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