Premiums, Subsidies and Tax Benefits Becoming Available to EU Members

by Dirk M. Dragt

The opening up of the ship registries of the Member States of the European Union to individuals and companies that are not original citizens or residents of the respective countries may result in new eligibility for premiums and subsidies by shipowners who are not original citizens or residents in the respective countries.

Further, various tax benefits may become available to shipowners who establish their activities in a European Member State. Tax benefits differ from country to country and are mainly found in accelerated depreciation, reservation of book profits on the sale of vessels for future investments, creation of reserves for investment in ships and similar types of tax grants. Following is a survey of the various Member States’ premiums, subsidies and tax benefits schemes.

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