In an effort to support shipping companies and shipowners in Cyprus during the coronavirus crisis, the shipping ministry has decided to extend the deadline for payment of the registry maintenance annual fee and the tonnage tax.
The deadline for payment of the tonnage tax and the registry fee for 2020 have been pushed back two months to May 31, the ministry said.
On Thursday, Deputy Minister of Shipping Natasa Pilides said the impact of the virus on the shipping industry will be unavoidable.
“I believe the impact will be unavoidable both on the Cypriot economy and on Cyprus shipping through the financial results of the shipping companies which unfortunately will be affected,” Pilides said
The shipping and ship management industry in Cyprus is estimated to generate around seven per cent of the island’s GDP.