The exemption applies to:
- profits derived from the use/chartering out of the ships
- interest income relating to the working capital of the company
- profits from the disposal of qualifying ships
- dividends received from the above profits at all distribution levels
- profit from the disposal of ship owning companies and its distribution
The exemption also applies to the bare boat charterer of a vessel flying the Cyprus flag under parallel registration.
Ship owners 08/09/2014