Proposal to Increase U.S. vessel Tonnage Duties

Monday, October 31, 2005
The House Committee on Transportation and Infrastructure issued a Press Release stating that, as part of the budget reconciliation process, it will propose that vessel tonnage duties be increased. Under the proposal, the duty on a vessel arriving from a foreign port in North America, Central America, the West Indian Islands, and the Bahamas Islands would be increased from 2 cents per ton to 4.5 cents per ton, not to exceed 22.5 cents per ton in a single year. The duty on a vessel arriving from any other foreign port would be increased from 6 cents per ton to 13.5 cents per ton, not to exceed 67.5 cents per ton in a single year. It is estimated that this proposal will increase federal receipts by $32 million in fiscal year 2006 and by $156 million for the five-year period 2006-2010. Source: HK Law

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


VT Halter Launches Barge for Bouchard

VT Halter Marine, Inc. (VT Halter Marine), a company of Vision Technologies Systems, Inc. (VT Systems) and Bouchard Transportation Co. announced that Barge B. No.

Fugro to Survey off Equatorial Guinea

Fugro has been awarded a contract by Ophir Equatorial Guinea (Block R) Limited for the provision of survey services for the development of large scale assets and

Thyssenkrupp Bids for Australian Sub Contract

German industrial group Thyssenkrupp has submitted an offer to the Australian government for a contract to build stealth submarines potentially worth tens of billions of euros,

Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0804 sec (12 req/sec)