According to the document published after the June agreement to release the latest and supposedly last tranche of bailout money for Greece, Athens was supposed to amend the country’s tonnage tax legislation before the summer break.
The document stated Athens would pass legislation in July designed to close unspecified tax loopholes. The European Commission has been harassing Greece to disallow the inclusion of capital gains from share sales, as well as inheritance, from the scope of its tonnage tax law, among other things. “This legislation will be finalised and legislated in July 2018”, the Commission’s report read.
But with September looming, no word of any changes has made its way to the Union of Greek Shipowners in Piraeus.
Asked for an update by the Maritime Watch, Katerina Peppa, UGS director general, said: “due to the vacations period for all involved parties, there is no development that we are aware of in relation to the captioned issue”.
The Commission’s Directorate-General for Competition first demanded Greece make changes to its tonnage tax law in 2016.