Maritime industry - C&B More (2024)

The tonnage tax scheme was introduced in the Netherlands in 1996 and is one of the main tax schemes that applies to the maritime industry. In brief, not the actual profits are taxed under this scheme, but taxable profits are rather determined based on a ship’s net tonnage. It is a very interesting tax scheme with a potential major influence on a company’s net yield. However, it is of paramount importance to properly arrange tax structures to maximise tax advantages. Thanks to its extensive maritime experience, C&B More knows all the pitfalls and opportunities of this specific scheme. Making the wrong choice could have major financial implications. Therefore, C&B More does not only examine your current situation, but also takes potential future scenarios into account. Which structure fits your company best? What are your company’s options to place your activities under this scheme? Since it is a major tax scheme in a special sector, we are happy to help you get the most out of this facility.

In this capital-intensive sector, it is vital to have the right fiscal structure. At C&B More, we know how to help you in the best possible way. During an economic boom, we can help keep your taxable profits as low as possible and adopt an optimal financing structure. And in a recession, we can make the most of the situation. Particularly under such circ*mstances, it can turn out to be vital to have a plan that inspires bankers and investors to have confidence. Which tools should be used in such a situation? We will not limit ourselves to national regulations, but will explore relevant international options, such as tax lease structures.

This scheme lowers wage costs for ships sailing under a Dutch flag. Although it is well-known facility in the maritime industry, it is not always applied properly. That is a pity, as your company may miss out on good opportunities, keeping your operating expenses at an unnecessarily high level. We have a long history in maritime consultancy and are perfectly equipped to help you with applying this scheme clearly and properly. Please do not hesitate to contact us. We are happy to help.

International regulations regarding tax and social insurance contributions liability for seafarers are complex. The flag, the nationality of the seafarers, the area where the activities take place, the country where the ship’s actual management resides and the employer’s country are al relevant in determining the country where wage tax and social insurance contributions liability arises. Our firm is specialised in this area. Applied incorrectly, the regulations may have disastrous consequences, including fines and retrospective assessments. We can also imagine that as an employer you want to have insight into the tax consequences of hiring seafarers. We can help.