Cyprus Tonnage Tax System Extension Approved by Parliament

Further to our previous newsfeeds on this matter, this is to report that on 15 April 2020 the Cyprus Parliament voted in the law the extension of the Tonnage Tax system applicable to the shipping industry in Cyprus for 10 years. The extension, including the relevant amendments, will be effective once it is published in the Official Gazette of the Republic of Cyprus, but it will have retrospective effect as from 1 January 2020. 

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