Cyprus’ parliament this week approved legislation exempting, with retroactive effect from January 1, 2010, the remuneration of seafarers who are not permanent residents of the Republic from contributions to the social cohesion fund .
Supporters of the bill, which passed with 23 votes in favour and 19 against , said would remove a distortion in the law and strengthen the island’s shipping competitiveness.
The amendment to the social cohesion fund law concerns foreign seafarers,
