P&O Loses Tax Appeal

Friday, May 12, 2000
P&O on Friday lost an appeal concerning whether or not VAT tax should be charged on items sold on journeys between European Union (EU) states. P&O had claimed that sales of non-consumable goods on their sailings between Portsmouth and Bilbao in northern Spain should be exempt from sales tax because the ship crossed non-EU waters.

However, a High Court judge said a "clear and unambiguous" EU directive stipulated the company must pay tax on all on-board sales if passengers first embarked in an EU member country, regardless of where the actual transactions took place.

"The court's ruled against us, but we're already applying this tax regime anyway," a P&O spokeswoman said, adding that the case was "a purely legalistic test."

Maritime Today


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

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

Asia Tankers-VLCC Rates to Climb Slowly

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers

BIMCO Launches New Standard Agreements for Novation of Shipping Contracts

BIMCO has published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.   Two of the agreements

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.0647 sec (15 req/sec)