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Finnish shipping industry to get more support - claim.

NORDIC BUSINESS REPORT-24 November 2003-Finnish shipping industry to get more support - claim(C)1994-2003 M2 COMMUNICATIONS LTD

The Finnish shipping industry will receive more support for passenger traffic, according to reports from the YLE television news.

According to the news, the Finnish subsidies will be raised to the Swedish level and a decision is expected to be made on Thursday (27 November).

Swedish passenger ferries are using a system with net wages for the crew, which means that the employer doesn't pay employment fees nor taxes on wages to the state.

It has been estimated that Finland would lose about EUR27m in taxes and that the shipping industry's tax benefits would increase to a total of more than EUR50m.

One euro (EUR) is worth approximately 0.7 British pounds (GBP).

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Title Annotation:government subsidies
Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUFI
Date:Nov 24, 2003
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