All tonnage tax regimes in Europe are based on the same principle – tax payable is based on the registered tonnage of vessels, multiplied by a fixed amount of deemed profit per ton, instead of the actual accounting profits. This results in a very low effective tax rate when the shipping business is doing well. However, the different regimes in Europe differ in detail in calculation methods and in some other respects. To facilitate shipping companies in making their choice for the optimal regime, PricewaterhouseCoopers compared the European tonnage tax systems for the shipping industry. This report gives you a detailed description of the differences between them and calculation examples, as well as an outline of the background of the tonnage tax regimes.
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