Better fiscal regime for ship management companies

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The European Commission provided last month new and detailed guidance on state aid granted to ship management companies. These new rules complement the 2004 guidelines on state aid to maritime transport and state that a tonnage tax may be applied to all ship managers, as long as they contribute to the development of the European maritime cluster and, more importantly, if they make a commitment to implement the Maritime Labour Convention 2006 ahead of its entry into force.

Under the 2004 Community guidelines on state aid to maritime transport, only ship managers providing jointly technical and crew management for the same ship were eligible to a tonnage tax calculated not on the profit or loss of a company in a given year, but by applying a notional annual income on its net registered tonnage. The 2004 guidelines, however, contained a commitment to re-examine the eligibility of ship managers after three years of its implementation. The Commission reassessed the matter and came to the conclusion that outsourcing part of a ship operation should not be fiscally penalised. Crew management and technical management of ships will therefore also be eligible when they are individually supplied.

Most ship managers are active in crew management, some of them in technical management, and a few of them in commercial management. The rules adopted last month deal with technical and crew managers.