The Cyprus Tonnage Tax System (TTS) is a highly competitive, EU-approved tax framework for shipowners, charterers, and ship managers. It replaces income tax with a tax based on the tonnage of operated vessels, enhancing predictability and reducing compliance burdens.
Instead of taxing net profits, Cyprus levies tax based on the net tonnage of the qualifying vessels. This provides certainty and tax efficiency.
Available to Cyprus and EU shipowners, charterers, and ship managers operating qualifying ships in eligible maritime activities.
Profits from qualifying shipping operations are fully exempt from income tax, including dividends paid from such profits.
The Cyprus regime is fully approved by the European Commission and complies with international maritime and fiscal standards.
Exectus offers advisory services for Cyprus-based maritime groups, assisting with registration, eligibility assessment, and TTS compliance monitoring.
