Norwegian shipowner JJ Ugland is facing a headache over its qualification for the country’s tonnage tax regime.
The Grimstad bulker specialist’s annual report reveals that subsidiary Ugland Shipping was in talks last year with the Norwegian Tax Administration (NTA) over the matter.
The NTA raised the question of whether the unit’s activities in 2018 and 2019 should have been taxed under ordinary corporate rates on profit instead of the cheaper flat rate under the tonnage tax.
