The new arbitration agreement replaces the current understanding between the Greek government and the Greek shipowners. The agreement regards a 10% tax on dividends gathered by individual taxpayers. This development continues the voluntary contribution scheme by shipowners and companies that are in Greece.

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Speaking about the new tax at the annual general assembly of the Greek Union of Shipowners, the group's president, Theodore Veniamis, state that most of the Greek shipping community decided to go ahead with the new agreement. He also mentioned that the agreement respects the legal and tax framework for shipping-related activity.

The 10% will be paid on a voluntary base regarding imported shipping-related dividends of individual taxpayers.