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Cyprus Considers Updating Tonnage Tax System and Pricing Policy for Ship Registration
September 9, 2019
Cyprus is considering updating its tonnage tax system and its pricing policy for the registration of ships as part of targeted measures to enhance the competitiveness of the Cyprus shipping industry, President of the Republic Nicos Anastasiades said on Friday.
Addressing a ceremony for the 25th anniversary of Fleet Management Ltd, Anastasiades said that enhancing the strategic advantages of the Cyprus maritime cluster remains a high priority for the government, as “we are all aware that our shipping industry operates in a highly competitive global environment, thus requiring stability and long-term innovative planning in order to further evolve.”
Our efforts, he said are “primarily focusing on further strengthening our role in the international shipping arena, consolidating the competitiveness of the Cyprus Flag and providing fruitful conditions for the sustainable growth of our shipping industry.”