As a follow-up to the Tonnage Tax Fee payment please find below the relevant Circular issued by the Shipping Deputy Ministry (SDM) (Circular No. 09/2020) which extends the date of payment of the Tonnage Tax Fee of Cyprus ships, to 31 May 2020. The extension of the date of payment also applies for the Cyprus Registry Maintenance Annual Fee.
- The Shipping Deputy Ministry, recognising the difficulties encountered by a number of interested parties in making payment of the financial obligations which are due under the provisions of the Merchant Shipping (Fees and Taxing Provisions) Law of 2010, Law 44(I)/2010 because of the universal spread of the coronavirus (COVID-19), has decided, for the 2020 tax year, to extend the date of payment of the Cyprus Registry Maintenance Annual Fee (“the Annual Fee”) and the tonnage tax with respect to Cyprus ships.
- In this respect, the Taxation of Owners of Cyprus Ships (Special Provisions on Collection) Notification of 2020 (P.I 136/2020), which has been published in the Official Gazette of the Republic (No. 5237 Suppl. III(I), dated 2/04/2020), provides that the tonnage tax with respect to Cyprus ships and the Annual Fee, for the 2020 year only, are now due for payment on 31st May 2020 (instead of 31st March 2020).