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A. S. Bergantino: Tomzage tax: the Italial1 proposal and the European expenences
fact, according to a well-known survey, which has also been widely accepted
by the European Commission, would generate 70% of the total
value added of the sector (14).
Hence the reasons why European govemments have introduced numerous
measures to support the shipping industry: fewer obligations on
seafarers' nationality, accelerated depreciation, tax-exempt funds for capitai
gains deriving from the disposal of fixed assets, reduction of the income
tax rate, partial or total tax exemption of profits, reduction or elimination
of social security payments by ship-owner, graduai reduction, and
in some cases total exernption, of incorne tax obligations on seafarers'
wages, establishment of international registries. More recently, following
the 1997 Community document, the "tonnage tax" has been introduced
in numerous European countries.
4. The tonnage tax: a European tax
The tmmage tax, a form of taxation typical of countries that make
open registries available to shipowners, has become in Europe - after the
pioneering experience of Greece - a fiscal measure very appealing to both
operators and governments. For many countries, in fact, it has represented
one of the answers to the growing crisis in the sector. Greece introduced
tonnage tax in1938. In 1975 it extensively reformed its regime
which is currently under further review. After Greece, The Netherlands
was the first country in Europe to introduce tonnage tax, in 1996. The
example was followed by: Norway (1997), Germany (1999), the United
Kingdom (2000), Ireland (2001), Denmark (2001), Spain (2001) and Finland
(2001). Sweden should only just have introduced the new regime
whereas its approvai is currently being discussed in France and Belgium.
Tonnage tax, as mentioned in the foregoing paragraphs, is a lumpsum
taxation system for incorne from maritime activities. By applying
this system the shipping company - regardless of the actual results of its
activity - is to pay a tax calculated on the basis of the tonnage of the ships
making up its fleet (15).
(14) A detailed explanation of the estimating procedure ean be found in Poliey
Research Corporation N.V.-ISL (2001) and in Peters C. et al. (1996).
(15) The calculation is normally carried aut by dividing smp size in classes, each
of which has a specific (inversely related to overall size) multiplicative coefficient. In
other \vords, the ship's net register tons (nrt) that belong to each c1ass (divided by 100
or by 1,000 depending on the country) are multiplied by the specific coefficient. The
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