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Know-How

The New Tonnage Tax: A Portuguese Geostrategic Assertion

21-11-2018

Following the publication of Decree-Law no.  92/2018, a new legal framework aimed at maritime shipping and merchant fleets has been introduced. With the goal of reinforcing the competitiveness of the Portuguese flag across the seas, it is established a new special regime for the computation of the taxable income based on the vessels’ tonnage (tonnage tax), as well as a special tax and contributory regime for the seafarers. The legal changes are supplemented with a revamped and simplified registration for ships and vessels.