With growth no longer a given, shipping and offshore companies are being forced to take a critical look at the business models. To survive, the traditional shipping industry will have to operate more flexibly.
Shipping companies that are part of the offshore value chain need to understand how differences in tax treatments can affect their business in key territories. This publication describes the different ways the shipping industry is taxed around the world and compares tonnage tax and incentive systems and looks at relevant tax treaties and countries with favourable tax regimes as well. Our comparative analysis considers both general trends and specific interpretations, which gives a clearer picture of how the world’s most important shipping nations handle taxation of shipping and offshore companies.