UK Law Update
WORLD PRACTICE
Asia  Europe  USA  UK  Middle East  Africa

UK TONNAGE TAX

Tonnage Tax is an optional alternative method of calculating the corporation tax of shipping companies based in the UK. The tonnage tax regime was introduced in the UK in 2000 to create a positive economic environment for international shipping companies that are based in the UK. It is the recent times that the implementation of this taxation is being felt in the UK shipping industry.

Purpose Of Tonnage Tax:

The aim was to enable the renewal and growth of existing UK-based shipping companies, whilst also attracting inward investment. This regime has addressed the decline in the UK merchant fleet. The number of shipping companies based in the UK has increased and subsequently this has also increased the number of individuals employed in the UK shipping industry.

Read more

Brexit and EU competition law

The UK has formally notified the EU of its exit from the EU. The extent to which this is likely to affect the application and enforcement of EU competition law in the UK is outlined below. Much will depend of course on the content of any exit deal reached with the EU.

Brexit

On 29 March 2017, the UK notified the European Council of its intention to leave the EU, under Article 50 of the Treaty on European Union. Formal negotiations on leaving the EU will take place, and the UK has a maximum of two years from in which to conclude an agreement on its withdrawal. Any exit deal has to be approved unanimously by the Council, and the European Parliament has veto powers over any deal struck.

Read more

24 May 2017
In this issue:
 
India Juris
F-116
Lajpat Nagar-1
New Delhi - 110 024, India
Ph: +91-11-29814816 / 29814817
Fax: +91-11-29815116
E: newdelhi@indiajuris.com
www.indiajuris.com
 
 
 
International Desks
 
Asia & Australia
M.P.Mehani
asia@indiajuris.com
 
Americas
Shivkumar Idnani
americas@indiajuris.com
 
UK & Europe
Sameer Rastogi
europe@indiajuris.com
 
Africa
Rahul Gupta
africa@indiajuris.com
 
Middle East
Dinesh Sabharwal
middleast@indiajuris.com
 
INDIA JURIS I www.indiajuris.com I Presentation, Awards & Rankings I Publications I Disclaimer