Malta has received approval from the European Commission (EC) for its tonnage tax system for a period of 10 years under European Union (EU) state aid rules.
The scheme will ensure a level playing field between Maltese and other European shipping companies, and will encourage ship registration in Europe, the Commission said.
“Tonnage tax systems are meant to promote the competitiveness of the EU shipping industry in a global market without unduly distorting competition,” said Margrethe Vestager, the commissioner in charge of competition policy.
