ECONOMY

Levy imposed on foreign currency of shipbrokers

Shipping services companies, such as shipbrokerages, will now have to pay a levy of between 6 and 10 percent on the foreign currency they receive and convert to euros, according to a new tax law.

The levy will apply for the 2013-16 period and will be calculated as a percentage of the total annual incoming foreign currency.

The new tax will only be imposed on Greek companies that own or manage ships under a foreign flag and on foreign shipowning firms that are based in Greece.

This in effect concerns about two-thirds of the Greek-owned fleet, i.e. over 2,500 vessels that do not sail under the Greek flag.

The state is anticipating annual revenues of 15.5 million euros from that levy.