# Commission Decision (EU) 2019/1116 of 19 December 2017 on State aid SA.33829 (2012/C) Maltese tonnage tax scheme and other State measures in favour of shipping companies and their shareholders (notified under document C(2017) 8734) (Only the English text is authentic) (Text with EEA relevance), Division 4: Malta commits to explicitly limit the application of tonnage taxation to the chartering out of vessels on bareboat basis and similar transactions between third parties. The chartering out of vessels on bareboat basis to third parties and similar transactions can be eligible only as ancillary activity of genuine shipping companies in the context of temporary overcapacity subject to the following conditions:

Extent: E+W+S+N.I.

(a) Only to deal with a situation of temporary excess capacity;
(b) For a maximum period of up to three years;
(c) Bareboat chartered out capacity will not exceed 50 % of the shipping companies' fleet, calculated on a group basis;
(d) Excess capacity specifically acquired for chartering out cannot be eligible.

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Source: https://www.legislation.gov.uk/eudn/2019/1116/annex/division/4 (the official version)
Page: https://openlegislation.uk/eu-decision-2019-1116/annex/division-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.