EU Commission approves shipping support in five countries

The European Commission said on Monday it had approved maritime transport support schemes in five EU countries - Cyprus, Denmark, Estonia, Poland and Sweden, Trend reports.

«The schemes encourage ship registration in Europe and contribute to the global competitiveness of the sector without unduly distorting competition,» the Commission said in a statement.

The Commission said that all five countries’ «seafarer» schemes would apply benefits to all vessels flying the flag of any EU country. Cyprus and Estonia also have a tonnage tax scheme, with taxation of dividends, which the Commission said ensured the same treatment as for shareholders in any other sector.