Executive Briefings

Sweden Plans to Introduce Tonnage Tax in Summer of 2016

The Swedish government has proposed a tonnage tax system that means Swedish shipping companies will operate under competitive conditions similar to companies in other countries in Europe. The tonnage tax would be introduced in summer 2016.

Sweden Plans to Introduce Tonnage Tax in Summer of 2016

Swedish ships have been registered under flags of convenience for many years. Last year, the Swedish merchant fleet decreased by a further six ships, making 320 in all. Sweship, formerly the Swedish Shipowners' Association, estimates that the introduction of the tonnage tax will, over the next ten years, result in 300 new ships sailing under the Swedish flag and 17,000 new jobs.

The government regards the introduction of the tonnage tax has an integral part of Sweden's ambition to have the lowest level of unemployment in the E.U. by 2020.

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Swedish ships have been registered under flags of convenience for many years. Last year, the Swedish merchant fleet decreased by a further six ships, making 320 in all. Sweship, formerly the Swedish Shipowners' Association, estimates that the introduction of the tonnage tax will, over the next ten years, result in 300 new ships sailing under the Swedish flag and 17,000 new jobs.

The government regards the introduction of the tonnage tax has an integral part of Sweden's ambition to have the lowest level of unemployment in the E.U. by 2020.

Read Full Article

Sweden Plans to Introduce Tonnage Tax in Summer of 2016