• Professional News
  • 23 June 2014

Improved taxation regime for special vessels in Denmark

The Danish Government intends to improve framework conditions for offshore vessels in order to improve competitiveness. As a result, Danish shipowners will be given the option of using the tonnage tax scheme on certain special vessels.

The offshore sector has become a growth market for the Danish shipowners. And the Government therefore wants to improve the competitiveness of Danish shipowners by ensuring an advantageous taxation regime for special vessels. This will be an element of the Government’s Growth Plan 2014.

Thereby, Denmark is right at the heels of several other countries which have already implemented attractive taxation regimes for special vessels.

The tonnage tax scheme to be expanded
Specifically, the Government will make it possible for hotel ships, wind turbine vessels, ice management vessels as well as guard, supply and construction vessels to be covered by the tonnage tax scheme.

The expansion of the tonnage tax scheme does not extend to drilling vessels and oil rigs.  Nor does the Growth Plan suggest that workers on board the special vessels are to be covered by the seafarer tax scheme.

It is the assessment of the Government that the change made to the tonnage tax scheme will not result in a noticeable reduction in tax revenue.

As the tonnage tax scheme is a state aid scheme, the proposed expansion is subject to the approval of the European Commission.

Would you like to know more?
Read more about the proposed modification of the tonnage tax scheme (in Danish).

You are always welcome to contact us if you want to know more about how your company may use the advantageous tax scheme for special vessels.

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