Wilhelmsen prompted to shift to Malta to avoid tonnage tax

Norwegian-based carrier Wilh. Wilhelmsen said Wednesday that a new tonnage tax regime in its home country would force the company to shift most of its shipping activities to Malta.

The tonnage tax, which was approved by the Parliament in December 2007, forces Norwegian ship-owning companies out of the previous system, the carrier said. Shipping companies must consequently decide if they want to enter the new scheme. The board of Wilh. Wilhelmsen has today chosen not to enter into the new Norwegian tonnage tax regime for the majority of its Norwegian-based shipping activities. The basis for the decision is uncertainty related to the predictability and sustainability of the new tonnage tax regime.

While the group is moving shipping activities to Malta, there are no current plans to move the group's head office from its present location outside Oslo. 

Source: American Shipper