Ireland is rated among the most attractive and efficient locations in Europe and an excellent choice for shipping services. It is an English speaking, Euro zone, neutral country with a vibrant economy, a highly efficient low cost telecommunication service, a productive and flexible workforce and low business tax rates.
The Irish Tonnage Tax system and the double taxation agreements the Ireland has with all major trading partners, offers the shipping industry the most competitive business environment within the EU/EEA. There are significant tax efficiencies to be gained by operating ships in international trade from a base in Ireland.
There is no restriction on vessel flag choice and there are training requirements. However most major ship operators avail of the high quality of cadets from the National Maritime College of Ireland (NMCI) in Cork. Shipowners are positively engaged by the training establishments with the Chamber of Shipping being represented on the board of the governing body of Cork Institute of Technology (CIT).
Thye Irish Maritime Development Office, IMDO, was set up by government to facilitate the growth of and to encourage the setting up of new shipping businesses in Ireland. There is a positive disposition of Government towards the maritime industry and there is easy access to the government ministers through the IMDO and the Irish Chamber of Shipping
Maritime Management’s mission is to provide the services that will allow shipowners and investors to benefit from these efficiencies and is engaged in all phases from Feasibility to Finance to Building to Operation.
To relocate your shipping business to Ireland also makes commercial sense. If you need to we can do everything you require.
Irish Tax
Ireland is an island nation with a strong maritime tradition. As a result, the Irish Tax and Legal system has been designed to make Ireland a very attractive place to do business for ship owners and operators. Talk to us today about how we can help you make the most of this opportunity for your business.
Corporation Tax Rates
A corporation tax of 12.5% applies to trading profits in all sectors including international services.
Tonnage Tax
A 12.5% rate of corporate tax applies on a nominal profit figure for certain shipping activities.
Qualifying shipping activities are:
- the use of a qualifying ship for the purposes of carrying passengers or cargo by sea, for reward;
- the provision of services, ancillary to that use, on board a qualifying ship;
- the subjecting of fish to a manufacturing process on board a qualifying ship;
- the letting on charter of a qualifying ship for use for those purposes where the operation of the ship and the crew of the ship remain under the direction and control of the company;
- the use of a qualifying ship for the purposes of transporting supplies or personnel to, or providing services in respect of, a mobile or fixed rig, platform, vessel or installation of any kind at sea.
Under the tonnage tax regime, profits are calculated on the basis of a nominal profit according to the net tonnage of the ship concerned. The standard corporation tax rate for trading income is then applied to the specified profit base.
The nominal profit is calculated on a sliding scale, using the following rule:
1.00 Euro/100 net tons for the first 1,000 net tons
0.75 Euro/100 net tons from 1,000 up to 10,000 net tons
0.50 Euro/100 net tons from 10,000 up to 25,000 net tons
0.25 Euro/100 net tons over 25,000 net tons
Legal Notice
Maritime Management is the registered trading name of Berg Maritime Management Limited, with company registration number 363416 (Ireland).
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