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

Global tax-related developments relevant for companies involved in shipping and related industries

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november 12, 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 (November 2025) that covers the following developments:

  • India: The Supreme Court held that a nonresident company maintaining business correspondences and bidding activities in India during a temporary lull was still "carrying on business," allowing it to claim business expense deductions and carry forward unabsorbed depreciation.
  • Lithuania: Lithuania’s Ministry of Transport and Communications on October 20, 2025, announced the proposed extension of its tonnage tax regime for shipping companies until December 31, 2036, enabling eligible maritime businesses to continue benefiting from fixed-rate profit taxation based on vessel capacity.
  • United Nations (UN): The UN’s International Maritime Organization (IMO) on October 17, 2025, postponed the adoption of draft amendments to MARPOL Annex VI introducing a global shipping carbon tax, with further discussions deferred to 2026.
  • Court of Justice of the European Union (CJEU): The CJEU on October 30, 2025, dismissed a challenge to the EU minimum tax directive, holding that changes to national tonnage tax regimes do not confer legal standing to challenge the directive. Read TaxNewsFlash
  • Brazil: The OECD on October 20, 2025, announced that Brazil signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Read TaxNewsFlash

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