Classification

Fishing companies are divided into large trawlers (vessels over 24 metres) and small trawlers (vessels under 24 metres), coastal fishers with turnover of over EUR 10,000 and coastal fishers with turnover of under EUR 10,000. Annual turnover of EUR 10,000 are the limit for VAT liability. As of 2016, this same monetary limit has also been applied by the new Fishing Act to divide commercial professional fishing companies into Type I and Type II in the professional fishing register. Until the year 2015 this limit was EUR 8,500.