3.4. Competitiveness and “YES” for higher Taxes
In return for the industry's commitment to Greece, and countless individual and often private contributions made by Greek ship-owners to the country's economic life and social fabric, shipping has never asked for anything except stability and maintaining the system that has allowed it to be internationally competitive.
Since the agenda of the country’s creditors – the European central Bank, the European Commission and the International Monetary Fund – has now openly included squeezing still higher tax revenues out of the industry. Greece is currently facing a further round of austerity measures in order to qualify for a possible third bail-out and to hope to remain afloat as a member of the …show more content…
Conclusion
Since the Greek depression started in late 2009, Greece became the first of five sovereign debt crises in the Euro Zone. In 2012, Greece’s government became the first developed country to fail to make an IMF loan repayment and that time the Government had debts of Euro 323 billion.
On the other hand Greece is a maritime nation by tradition and has been a key element of Greek economic activity since ancient times. Maritime industry contributes worth of Euro 252 billion in 2014, accounts for 6.5% of GDP, employees 290,000 people and covered 35% of country’s trade deficit.
By introducing friendly taxation laws in 1950 and reinforced in 1970, Greek ship-owners were attracted to the motherland. The vast majority of finance for Greek ships provided from International banks and international funds allowed them to cater to the national Economy. This friendly taxation policy and international funding helps them to bring foreign currency in to the country.
Active Role of the union of Greek ship-owners helped shipping community to continue its presence in Greece. Launching social solidarity programs to feed thousands of poor people in the community and helping the government by triple their payments of the tonnage levies voluntarily for four years. This deal helped the government to get further Euro 420 million over the …show more content…
Reference
1. Polemis, Spyros M. "The History of Greek Shipping". greece.org. Retrieved 9 April 2007.
2. Press release (11 May 2006). "Greek Shipping Is Modernized To Remain a Global Leader and Expand Its Contribution to the Greek Economy". National Bank of Greece. Archived from the original on 31 August 2007. Retrieved 8 April 2007.[dead link]
3. Encyclopedia Britannica, history of Greece, Merchant middle class, 2008, O.Ed.
4. A history of Greek-owned shipping, by Gelina Harlaftis
5. Depredations: Overend, Gurney & Co and the Greek and Oriental Steam Navigation Company, by 'Stefanos Xenos' (1869)
6. "ECSA Annual report 2010-2011" (PDF). European Community Ship owners’ Association. ecsa.be.
7. "ITC Trade Map: List of exporters for Sea Transport, i.e. country ranking in value of exports (services; data code 206; yearly times series)". WTO–ITC. Retrieved 22 May 2013.
8. "GDP - Current prices [nama_gdp_c]". Eurostat. 18 May 2013. Retrieved 12 April 2013.
9. http://www.ft.com/cms/s/0/f99c3fc0-2b9d-11e5-acfb-cbd2e1c81cca.html#axzz3oPhEMKTC
10. http://www.celebrityillustratedmagazine.com/q/Greek_shipping
11. http://www.quazoo.com/q/Greek_shipping
12.
In return for the industry's commitment to Greece, and countless individual and often private contributions made by Greek ship-owners to the country's economic life and social fabric, shipping has never asked for anything except stability and maintaining the system that has allowed it to be internationally competitive.
Since the agenda of the country’s creditors – the European central Bank, the European Commission and the International Monetary Fund – has now openly included squeezing still higher tax revenues out of the industry. Greece is currently facing a further round of austerity measures in order to qualify for a possible third bail-out and to hope to remain afloat as a member of the …show more content…
Conclusion
Since the Greek depression started in late 2009, Greece became the first of five sovereign debt crises in the Euro Zone. In 2012, Greece’s government became the first developed country to fail to make an IMF loan repayment and that time the Government had debts of Euro 323 billion.
On the other hand Greece is a maritime nation by tradition and has been a key element of Greek economic activity since ancient times. Maritime industry contributes worth of Euro 252 billion in 2014, accounts for 6.5% of GDP, employees 290,000 people and covered 35% of country’s trade deficit.
By introducing friendly taxation laws in 1950 and reinforced in 1970, Greek ship-owners were attracted to the motherland. The vast majority of finance for Greek ships provided from International banks and international funds allowed them to cater to the national Economy. This friendly taxation policy and international funding helps them to bring foreign currency in to the country.
Active Role of the union of Greek ship-owners helped shipping community to continue its presence in Greece. Launching social solidarity programs to feed thousands of poor people in the community and helping the government by triple their payments of the tonnage levies voluntarily for four years. This deal helped the government to get further Euro 420 million over the …show more content…
Reference
1. Polemis, Spyros M. "The History of Greek Shipping". greece.org. Retrieved 9 April 2007.
2. Press release (11 May 2006). "Greek Shipping Is Modernized To Remain a Global Leader and Expand Its Contribution to the Greek Economy". National Bank of Greece. Archived from the original on 31 August 2007. Retrieved 8 April 2007.[dead link]
3. Encyclopedia Britannica, history of Greece, Merchant middle class, 2008, O.Ed.
4. A history of Greek-owned shipping, by Gelina Harlaftis
5. Depredations: Overend, Gurney & Co and the Greek and Oriental Steam Navigation Company, by 'Stefanos Xenos' (1869)
6. "ECSA Annual report 2010-2011" (PDF). European Community Ship owners’ Association. ecsa.be.
7. "ITC Trade Map: List of exporters for Sea Transport, i.e. country ranking in value of exports (services; data code 206; yearly times series)". WTO–ITC. Retrieved 22 May 2013.
8. "GDP - Current prices [nama_gdp_c]". Eurostat. 18 May 2013. Retrieved 12 April 2013.
9. http://www.ft.com/cms/s/0/f99c3fc0-2b9d-11e5-acfb-cbd2e1c81cca.html#axzz3oPhEMKTC
10. http://www.celebrityillustratedmagazine.com/q/Greek_shipping
11. http://www.quazoo.com/q/Greek_shipping
12.