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Marine Circulation Taxes

varvitsiotisThe Minister of Mercantile Marine–Miltiadis Varvitsiotis–presented the new regulation for circulation tax on pleasure crafts comparing it to road tax. While justifying this amendment in front of the Parliament he spoke of revenue stimulation and restoration of social justice.
Responding to criticism that the Ministry is enforcing cheap taxes, he said that the new regulation is fair and fully functional, making the country more competitive.
Mr. Varvitsiotis reminded the Parliament that all the previous regulations didn’t bring anything for the government in terms of state revenue. He also presented actual cost data for the year 2012 reaching 40,000 Euros, and in 2011 reaching 150,000 Euros.
The Minister of Mercantile Marine also claimed that this regulation exempted boats up to 7 meters long, while the owners of 7 to 10 meter boats will have to pay 200 Euros in circulation taxes. Boats over 12 meters are charged 100 euros per meter yearly. The estimated revenue-–given that the Collection Agencies will do their job properly–reaches 20 million Euros per year.
Mr. Varvitsiotis talked of two incentives for boat owners. There will be a 50% reduction for commercial use and 30% reduction for the next year if the owners can prove that the boat did not leave the country during the year. He also spoke of two methods of payment either annually or monthly, with a 20% surcharge per meter.

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