Es­to­nia works on at­tract­ing ship­ping in­dus­try with tax ex­cep­tions

Baltic News Network - - News -

Ship­ping-in­dus­try ex­cep­tions to the Es­to­nian tax sys­tem are on the agenda of the Es­to­nian gov­ern­ment as de­ci­sions have been made on tax­able base for sea­far­ers and re­mote reg­is­tra­tion of ships to be avail­able to e-res­i­dents.

Es­to­nian pub­lic broad­caster ERR re­ports that aim­ing for ex­cep­tions in Es­to­nia’s pre­vi­ously uni­form tax sys­tem for the ship­ping sec­tor and sea­far­ers the gov­ern­ment es­tab­lished that their tax­able base should be 750 eu­ros and must now de­cide whether the typ­i­cal 20% or the lo­cal gov­ern­ment rate 11.6% should be taxed on the 750 eu­ros per­cent.

Es­to­nian min­is­ters also de­cided that a ton­nage tax will be put in place re­plac­ing cor­po­rate in­come tax as to ship­ping com­pa­nies.

In ad­di­tion a de­ci­sion has been made to es­tab­lish mod­ern, pa­per­less dig­i­tal in­for­ma­tion sys­tems that would be ac­ces­si­ble world­wide that would be used, for ex­am­ple, an e-regis­ter of ships that would per­mit e-res­i­dents of Es­to­nia to regis­ter ships re­motely, also lift­ing the re­quire­ment of a phys­i­cal rep­re­sen­ta­tive in Es­to­nia.

AFP/SCANPIX

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