Cyprus Union of Shipowners welcomes New Tonnage Tax Law and piracy measures

The Cyprus Union of Shipowners held it’s Annual General Meeting in Athens and was attended by a number of Shipowning member companies and Government officials, as well as legal and accountancy advisers. Various issues were discussed relating to Cyprus Shipping.

The main issues of discussion were the Cyprus Tonnage Tax Law and legal and accountancy advice was given as to how this law is interpreted in regard to shipowning companies. Finally, the very pressing issue of Piracy. The Cyprus Union of Shipowners is in contact with The Department of Merchant Shipping in order to try to draft a new law which will allow armed guards upon Cyprus Flag tonnage in areas that have an active Piracy problem such as the Indian Ocean area. This will need Parliamentary approval and CUS expects that this could be achieved by the end of this year.

Finally, at the end of the meeting the Union’s Chairman, Mr. George Mouskas, the two Vice Chairmen, Mr. Andreas Hadjiyiannis and Mr. Polis Hadjioannou and the two Consultants, Mr. Tassos Panayides and Mr. Anastassis David, expressed their gratitude to the officials of the Department of Merchant Shipping, for the Cyprus Government’s support and co-operation on the above matters.

Full article, ELNAVI Magazine, Issue 451-452, Page. 59

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