The Estonian parliament is considering a draft law for the introduction of a tonnage tax regime for the marine sector, which passed its first reading on 13 November 2019. The regime provides that qualifying shipping may opt to have the tonnage tax apply on their income from international shipping, while other income would remain taxed under the regular corporate tax regime. For income qualifying under the tonnage tax regime, the tax is calculated daily based on the net capacity of a vessel, which is multiplied by specific coefficients ranging between 0.0084 and 0.0020 depending on certain factors including the age...