Im Focus

Tonnage Tax

Tonnage tax – Tax concessions for German shipping

Germany is the third biggest financer of the international merchant shipping fleet with German owners owning 9.7 % of the world wide tonnage. Hamburg is the biggest market place of shipbrokers in the world. The German tonnage tax regime and the wide spread KG model to finance ships has increasingly attracted shipping companies from all over the world to come to Germany and seek access to the German KG market. With our auditors, tax advisors and lawyers acting in concern we advise our clients on their way to Germany in regard to all aspects of their inbound investment. Our in depth knowledge of the shipping market and the business of shipmanagement allows us to define the requirements of the German tonnage tax regime especially with respect to the domestic management of the vessels, crew and flag requirements. We help our clients to set up shipmanagement companies as well as draft their contracts with the shipowners. We assist you in founding your company, registering with the tax authorities and getting your business started. We are also prepared to advise your staff on their personal tax situation. We also advise in labour law questions and all issues of social security.

 

Shipping taxation as an international business requires an experienced partner. We look back at a history of several decades in advising clients from the maritime sector, shipowners and shipmanagers. Along with the requirements of the German tonnage tax regime we are prepared to structure your inbound investment taking into account domestic German tax law as well as European tax law, double tax conventions and the European VAT directive. We do not stop when we have filed your tax declaration or when we have prepared your annual accounts. We additionally provide tax and reporting packages for your head quarter and work in close corporation with your advisors in your home jurisdiction.