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KPMG report: Shipping and offshore tax update (July 2026)

Global tax developments in the shipping and offshore sectors across multiple jurisdictions

July 15, 2026

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 2026) that covers the following developments:

  • Germany: The Federal Ministry of Finance on June 18, 2026, issued updated administrative guidelines clarifying that while seagoing vessels do not constitute a permanent establishment, but permanently moored units and certain offshore construction activities may.
  • Greece: The government proposed increasing tonnage tax rates annually by 4% from 2026 through 2030, while extending certain benefits to EU- and EEA-flagged vessels and introducing incentives for fleet renewal.
  • Hong Kong: The government published a bill introducing tax facilities for shipping-related activities and physical commodity trading to support its role as a maritime and trading hub.
  • Netherlands: KPMG tax professionals published an analysis in professional literature examining the interaction between the Dutch fiscal unity and tonnage tax regimes.
  • Suriname: An International Monetary Fund report indicated that the government expects significantly higher revenues from offshore oil production beginning in 2028.
  • Sweden: The Swedish Parliament approved measures expanding the tonnage tax regime, including broader bareboat charter activities and adjusted vessel qualification criteria.
  • Trinidad and Tobago: The government introduced targeted tax incentives for smaller, lower-yield offshore gas fields to stimulate investments.

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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

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