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