July 5, 2024 (press release) –
In a piece from The Maritime Executive, Romain Farnoux brings to light the controversy surrounding the potential elimination of France's tonnage tax regime amid early legislative elections. The scheme, which provides a tax advantage to shipping companies, also promotes thousands of jobs and maritime activities. However, the French Court of Auditors estimates an approximate €9.4 billion tax revenue loss from 2022-2023 due to this regime. The abolishment could lead to shipowners relocating to other European jurisdictions with similar tax advantages, thereby threatening France's competitive standing in the global shipping industry.
Industry Intelligence editor's note: Information originally published in The Maritime-Executive. To view the full article, please visit https://www.maritime-executive.com/article/abolition-of-french-tonnage-tax-could-lead-to-reflagging.
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