The Greek government has formally dismissed European regulators’ demands that the country revise its shipping tax law to bring it in line with European Union (EU) state aid rules.

In a letter sent to the European Union’s executive Commission, the Greek government “repudiates the claim that the Greek tonnage tax system constitutes preferential treatment and that it distorts EU competition,” the Union of Greek Shipowners (UGS) said in its annual report published today.

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