UK tonnage tax changes warning

NAT vessel

UK-based shipping accountant Moore Stephens has warned that new European Commission requirements will lead to unwelcome changes to the UK tonnage tax regime from April 2008.

Sue Bill, a tax partner with Moore Stephens, says, “The good news is that UK tonnage tax will remain as a stable and robust regime, as the changes will affect relatively few shipowners. Also, the UK government seems to be trying to ensure that the required amendments will be implemented as reasonably as possible.”

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