The Commission has opened an investigation concerning Tonnage Tax in Denmark.

The Danish Authorities no longer intend to require companies benefiting from the tonnage tax scheme to send the Authorities financial information relating to their transactions with their foreign subsidiaries. The Commission took the view that the change could negate one of the control measures linked to the scheme, namely the monitoring of commercial transactions between companies subject to this scheme and their subsidiaries.

In Ireland, schedule 18B of TCA 1997 provides that in the case of a group election for tonnage tax, the Revenue may request particulars of all companies in a group, their respective shareholdings, and the flow of funds between all companies in the group.

Further information is available at http://europa.eu/rapid/pressReleasesAction.do?reference=IP/07/147&format=HTML&aged=0&language=en&guiLanguage=en.