It is not a foregone conclusion that Greece-based shipmanagers will escape unscathed from China’s new charter-hire tax, professional-services specialist Deloitte cautioned this week.
A double taxation treaty (DTT) and a maritime transport agreement (MTA) between the two countries are generally believed to protect Greek shipping from Beijing’s new Enterprise Income Tax (EIT), which nominally took effect on 1 August. It is understood that the EIT will mean a 25% tax will be charged on the profit of non-resident shipping companies operating on international routes into Chinese ports, as reported by TradeWinds.
But
