The Cyprus parliament approved on 15 April 2020 the amendment of the Merchant Shipping (Fees and Taxing Provisions) Law, which includes an extension of the application of the tonnage tax regime. With the amendment, the regime is extended by 10 years, including the tax exemption for employment income of masters, officers, and crew members of EU flag eligible ships. The extension applies to ship ownership, ship management, and ship chartering activities.
Amendments to the regime are also made …