Changes Afoot in Germany

The German government is considering radical changes to the German ship-share system because of increasing anger that vessels financed with the help of German tax breaks are being built in Poland and South Korea.

Buyers of the shares in new ships can use the investment to reduce their income tax bills, and the shares are popular with high earning professionals such as doctors, dentists and lawyers. The tax reductions are aimed at helping investment in German industry.

An agreement with the European Union Commission to permit the scheme being classed as a shipyard subsidy means vessels can be ordered in any country – and Korean and Polish yards are getting the main share of orders.

This is only an excerpt of Changes Afoot in Germany

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