IRS Changes Freight Tax Exemption

Wednesday, July 11, 2007
The US Internal Revenue Service (IRS) issued final, temporary and proposed regulations recently that significantly change certain requirements to claim the exemption from freight tax. In addition, the regulations clarify that certain activities will be treated as "incidental" to international shipping operations, meaning that income from these incidental activities can qualify for the exemption from freight tax. (Source: HK Law)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Australian Navy Seizes $158m of Heroin

An Australian Navy warship patrolling Indian Ocean waters seized heroin worth $158 million near east Africa this week, a navy official said on Thursday, one of

Aussie Tug Engineers take Deal, Cancel Strike

Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports

MoA for APM Terminals in Ghana Port Deal

Port operator APM Terminals, a unit of shipping and oil conglomerate A.P. Moller-Maersk , said on Thursday it had signed a memorandum of understanding with the

Shipbuilding

Energy Storage System Ordered for LNG Battery Hybrid Ferry

Norwegian hybrid to be the first LNG battery ferry to operate on commercial routes Corvus Energy, Siemens AS and Fjord1 have announced the award of the contract for the Fannefjord LNG hybrid ferry.

CSCL’s New Containership Sets Two World Records

Largest boxship undergoes tests, powered by largest engine China Shipping Container Lines Co. Ltd. (CSCL) ran sea trials from October 17-20 on its newbuilding,

Ulstein Verft Ready for Big Scale Construction

Ulstein Verft’s largest vessel so far is under full production these days. Sections for hull 302, an offshore construction vessel for Island Offshore/Edison Chouest Offshore,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0904 sec (11 req/sec)