Greek shipowners vote to extend tax pact

In order to aid the struggling Greek economy, shipowners have voted to voluntarily extend doubling tonnage tax contributions for a fourth year, according to multiple news sources.    Greek shipowners have agreed to extend their voluntary tax pact by another year, according to multiple news sources.
   At a meeting of the Union of Greek Shipowners held on June 26, members “unanimously approved” doubling tonnage tax contributions for a fourth year, according to LloydsList.
    Union President Theodore Veniamis proposed to extend the tax contributions under the required procedures of the “Memorandum of Understanding of the Voluntary Contribution” between the shipping community and the Hellenic Republic in order “to contribute to the achievement of the desired fiscal targets,” reported the Shipping Herald.
   The agreement was first introduced in order to help the struggling Greek economy, which has been subject to government-mandated austerity measures for the past several years under a bailout program from the European Union and the International Monetary Fund.