The European Commission has approved an extension of Belgium's tonnage tax scheme for shipping.
The regime will be continued until the end of 2022, Bloomberg reported.
Companies will be taxed on tonnage rather than profit as long as a significant part of their fleets is registered in a European Economic Area (EEA) member state.
The Commission said the programme is in line with state aid rules, as it provides incentives to keep maritime jobs within the European Union.
