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Cyprus Tax Facts 2013

In May 2010 the Cyprus Parliament enacted The Merchant Shipping (Fees and Taxing Provisions) Law of 2010 (the “Law”) which applies retrospectively from 1st January 2010 and which introduces the new Tonnage Tax (TT) Regime. This Law has extended the favourable benefits applicable to owners of Cyprus flag vessels and ship managers, to also include owners of foreign flag vessels and charterers.

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