Concern that EU plan could drive shipping companies away from Cyprus
By a Staff Reporter
CYPRUS is worried that an EU proposal to amend the directive relating to ship owners and managers will cause shipping companies to leave the island for distant shores.
According to reports from Brussels, the European Commission plans to submit a proposal to the European Council to change the tax rules for shipowners and managers as part of a package, which also includes revoking a privilege these companies have to receive state subsidies
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