Cyprus Tonnage Tax System: Flags which appear on the Grey List and Black List of the Paris MOU for the Fiscal Year 2017

The Department of Merchant Shipping on the 31st of October 2017 with regard to the Cyprus Tonnage Tax System (Law 44(I)/2010), the Director of the Department relied on sections 17(2), 27(2) and 40(2) of the Law and the relevant tables contained in the Annual report of the Paris MOU for the year 2016 and has decided that certain flags will be included in the Grey List or the Black List of the Paris MOU for the fiscal year 2017.

It is recalled that, as provided by sections 17(1), 27(1) and 40(1) of the said Law, Qualifying non-Community ships shall have their annual tonnage tax increased:

1. by thirty per cent (30%) if the flag they are entitled to fly appears in the Grey List of the Paris MOU;
2. by sixty per cent (60%) if the flag they are entitled to fly appears in the Black List of the Paris MOU.

As provided by section 34(4) of the Law, ships under management (Community and nonCommunity ships), under management flying a flag of a State mentioned in the BLACK list must be deemed to comply with international and Community standards only if the technical and crew management of every such ship is entirely performed from the territory of any EU/EEA Member State. In case of failure of compliance with these requirements, of section 54 of the Law will apply, thus the Director may impose a fee to ensure compliance.

Grey List of the Paris MOU to be used for the fiscal year 2017:

1. Albania 2. Algeria 3. Azerbaijan 4. Bulgaria 5. Curacao 6. Egypt 7. Georgia 8. India 9. Jamaica 10. Korea, Republic of 11. Kuwait 12. Lebanon 13. Libya 14. Lithuania 15. Malaysia 16. Mongolia 17. Morocco 18. Poland 19. Slovakia 20. Switzerland 21. Saint Vincent and the Grenadines 22. Syrian Arab Republic 23. Thailand 24. Tunisia 25. Tuvalu 26. Ukraine 27. Viet Nam

Black List of the Paris MOU to be used for the fiscal year 2017:

1. Belize 2. Bolivia 3. Cambodia 4. Comoros 5. Congo, Republic of the 6. Dominica 7. Honduras 8. Moldova, Republic of 9. Montenegro 10. Sierra Leone 11. Saint Kitts and Nevis 12. Tanzania, United Republic of 13. Togo 14. Vanuatu