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- Title
International Shipping Industry Benefits from Recent Tax Changes.
- Authors
Lifson, David A.; Bentley, Peter E.
- Abstract
Focuses on the benefits of the deferral of freight tax regulations under the American Jobs Creation Act to the U.S. shipping industry. Background on the freight tax regulations finalized by the Internal Revenue Service in 2003 to fully implement the statutory exemption of foreign ship-owners and operators from freight tax; Changes made to the tax law applicable to controlled foreign corporations involved in international shipping; Scope of tax breaks under the Section 404 (a) of the Jobs Act. INSETS: WHICH TAX REGIME APPLIES?;HOW THE SECTION 883 EXEMPTION WORKS.
- Subjects
UNITED States; TAX laws; MARITIME shipping -- Taxation; TAXATION; TAX exemption; FOREIGN corporations; TAX incentives; FREIGHT &; freightage; UNITED States. Internal Revenue Service
- Publication
CPA Journal, 2005, Vol 75, Issue 6, p48
- ISSN
0732-8435
- Publication type
Article