Union of Greek Shipowners denies phase-out of offshore tax status

Athens: Greece’s shipping community should calm its fears that the Greek government has bowed to Eurogroup pressure to phase-out offshore tax status for Greek shipping and marine service companies.

“According to our official information the rumours … that the Greek government has accepted the Law 89 phase-out is absolutely incorrect,” the Union of Greek Shipowners exclusively told Splash today.

Yesterday, the director general of the Cyprus Shipping Chamber said Greek shipping companies were mulling a move to Cyprus due to economic uncertainty and worries about the future of their offshore tax status in Greece.

“Shipowners are fairly blind to the costs of the Eurozone membership to the country for their business interests,” one Greek shipping finance expert commented to Splash last night. “Moving out does not work well for the small companies.”