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Engagements › Northbridge Marine Holdings › Local File

Local File

Assembled section by section for each entity that owes one. Each section shows what it rests on and where it stands. Content follows OECD Ch. V, Annexes I–II.

Assembled section by section; exports as final only when confirmed.

Northbridge Marine Holdings LtdNorthbridge Crew Services Ltd

DRAFT — not signed off. 3 of 3 sections are not yet confirmed; an export now carries the draft mark. Export Draft On iPad: Print → Save as PDF for a readable copy. Export As Final — export as final once all 3 sections are confirmed, 3 to go

1. The local entity

Draft

Northbridge Crew Services Ltd is a company resident in Cyprus. Crew agency for group and third-party vessels; not a qualifying ship manager, so under income tax.

Group: Northbridge Marine Holdings. Entities in the group: Northbridge Marine Holdings Ltd (CY); Northbridge Ship Management Ltd (CY); Northbridge Bulk Carriers Ltd (CY); Northbridge Crew Services Ltd (CY); Northbridge Tankers Ltd (MT).

Documentation duty: services of €1,350,000 exceeds the €1,000,000 threshold the Tax Department publishes.

Sources: ITL s.33(7)–(8); Tax Dept FAQ Q52; OECD Ch. V, Annexes I–II. Rests on: Obligations: Northbridge Crew Services Ltd (draft).

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Rests on, not yet confirmed: Obligations: Northbridge Crew Services Ltd.

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2.1 Crew supply to the tankers

Draft

Crew supply to the tankers: Northbridge Crew Services Ltd to Northbridge Tankers Ltd, €1,350,000 in the year.

Method: Transactional net margin method, net cost plus. Tested party: Northbridge Crew Services Ltd.

No written agreement on file.

Risk allocation: Owner bears the operating risk of the vessels.

Sources: OECD 1.36. Rests on: Benchmarking: Crew supply to the tankers (draft).

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3. Financial information

Draft

Financial information used in the analysis: Management accounts, Cyprus companies (SHA-256 58754b9bee6f52c4…).

Crew supply to the tankers: net cost plus earned 5.20%.

Sources: OECD Ch. V, Annexes I–II.

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