Training Objectives

By the end of the programme, participants will have deepened their understanding of:

• the core concepts underlying the current rules in the taxation of profits from international shipping
• the impact of the OECD/Inclusive Framework on BEPS Pillars on international shipping companies
• Recent developments on tonnage tax systems at the level of the EU, also in light of the two pillars
• Recent developments on source taxation of shipping income at the level of the United Nations
• Current issues regarding environmental taxation of the shipping industry

Training Outline

The session will cover recent topics in the field of international maritime shipping taxation, aiming to provide a macro-overview of the topic and policy issues, restate some of the current principles and practices in force, and zoom in on some of the current ‘hot potatoes’ in this specific niche of international taxation, which is especially relevant to Cyprus, given its position as one of the most successful mercantile flag states.

Taxation of shipping companies: residence state perspective

• Basic concepts: shipowner state, flag state, operator state and relevance in international taxation
• Tonnage tax regimes: policy considerations, scope and application
• Impact of Pillar Two on international shipping, including the future OECD v EU clash on tonnage tax scopes

Taxation of shipping companies: source state perspective

• International shipping under bilateral tax treaties and the OECD Model
• Impact of Pillar One on international shipping: source state nexus rules unleashed
• UN’s current work on Article 8 to reinforce source taxation of international shipping income

Taxation of shipping companies: environmental perspective

• Environmental taxes and international shipping: a status overview
• Can income tax make international shipping greener?

Who Should Attend

The programme is for professionals interested in policy development and the re-framing of the international tax system.

• Lawyers
• Internal Lawyers
• Managers of Investment Firms
• Investment Analysts
• CFOs
• Tax Consultants
• Accountants
• Financial Controllers
• Shipping managers
• Loan officers
• External Auditors and Financial Consultants
• Directors
• Senior Managers

Training Style

The training style is training-focused, involving a combination of presentation and real-life examples, but also learner-focused, where participants are encouraged to raise questions, seek clarifications and share their opinions from their different perspectives and engage in an exchange of views and personal professional experiences.

CPD Recognition

This programme may be approved for up to 5 CPD units in Accounting and Auditing. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.