EC investigating Denmark’s tonnage tax proposal

EC investigating DenmarkÆs tonnage tax proposal The European Commission Wednesday opened an investigation concerning a proposal by Denmark to amend its flat-rate tonnage-based tax scheme for ocean shipping companies.
   The proposal would waive the requirement for benefiting companies to file financial information relating to transactions with foreign subsidiaries, something the EC believes would damage the monitoring of the companies activities.
   'The abuse-prevention measures required by the commission for all the tonnage tax schemes within the community are essential to ensure that these very favorable taxation measures are not extended to activities other than maritime transport,' the EC said.
   The EC is therefore calling for opinions from interested third parties, in particular the tax authorities in the other member states.