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FarCenter

(19,429 posts) Thu Jun 7, 2012, 03:41 PM Jun 2012

Greek ship magnates stay afloat as economy sinks

AFP - Greece's economy may be on its knees, but as evidenced in Athens at the world's biggest maritime trade fair this week, the global titans that are its shipping magnates are still standing tall -- for now.

"Shipping is an international industry," said Theodore Vokos, organiser of the biennial Posidonia fair, an event in its fifth decade this year bringing together a record 1,870 exhibitors from 87 countries, many from Asia.

"Therefore the good thing for Greek shipping is that it is not affected by the Greek crisis," he said.

http://www.france24.com/en/20120607-greek-ship-magnates-stay-afloat-economy-sinks

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Greek ship magnates stay afloat as economy sinks (Original Post) FarCenter Jun 2012 OP

What do you want to bet those guys have some pretty interesting deals in the works in a world patrice Jun 2012 #1

Income from ships and shipping is tax exempt in Greece. Small wonder that shipping magnates pampango Jun 2012 #2

Is Aristotle Onassis still dead? slackmaster Jun 2012 #3

patrice

(47,992 posts)

1. What do you want to bet those guys have some pretty interesting deals in the works in a world

Reply to FarCenter (Original post)

Thu Jun 7, 2012, 03:53 PM

Jun 2012

in which coast-line is disappearing at something like 1 meter per year.

pampango

(24,692 posts)

2. Income from ships and shipping is tax exempt in Greece. Small wonder that shipping magnates

Reply to FarCenter (Original post)

Thu Jun 7, 2012, 07:19 PM

Jun 2012

there are doing so well.

Tax Exemptions

There are several cases of Tax exemptions under the Greek taxation system, these are as follows:

Proceeds from the sale of shares that are traded on the Athens Stock Exchange.
Income from ships and shipping.
A dividend received from a Greek company.
Capital gain from sale of a business between family members, as defined by law.

http://en.wikipedia.org/wiki/Taxation_in_Greece

Sounds like the rich have got a pretty good deal. Not only is shipping income exempt from taxes, so are gains from the stock market and dividends.

slackmaster

(60,567 posts)

3. Is Aristotle Onassis still dead?

Reply to FarCenter (Original post)

Thu Jun 7, 2012, 07:21 PM

Jun 2012

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