KPMG report: Shipping and offshore tax update (July 2025)

The KPMG member firm in the Netherlands has prepared a report that summarizes certain global tax-related developments that are relevant for companies involved in shipping and related industries.

Read the KPMG report (July 2025) that covers the following developments:

• The International Maritime Organization (IMO) has introduced the Net-Zero Framework, a global initiative aimed at reducing greenhouse gas (GHG) emissions in the shipping industry through carbon pricing mechanisms.
• The Court of Justice of the European Union (CJEU) held that the excise duty exemption for gas oil cannot be denied solely due to the absence of proper marking, as long as there is no fraud and the gas oil is indeed used for the intended purpose.
• The UN Committee of Experts on International Cooperation in Tax Matters released text in relation to international shipping.
• Norway's tax refund scheme for employing seafarers, determining that these amendments constitute State aid.
• The European Commission approved, under EU State aid rules, the re-introduction of Italy's “International Registry” scheme, which aims at encouraging shipping companies to register their ships in Europe.