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.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.