At its recent 27th meeting in Geneva, the UN Committee of Experts discussed several items that could impact shipping specifically and, potentially, extend to international transportation generally. The Committee has requested that comments on any of its proposals be delivered to the UN Secretariat by November 10, 2023 and all proposals are available at the…
Continue reading…Shipping Challenge to EU Implementation of Pillar Two
Pillar 2 of the OECD BEPS project presents a number of problems for the shipping industry. Although there is a carve-out for shipping, its scope is inconsistent with the scope of many, if not all, tonnage tax regimes and it creates a sub-category of shipping income that is subject to limitation for exemption. As published in…
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U.S. Ends Hong Kong Transportation Agreement: The ‘Principle of Least’ Upended?
Reprinted courtesy of Tax Notes. 169 Tax Notes Federal 1317 (Nov. 23, 2020). By Jim Border In sociology, the “principle of least interest” posits that the person who cares the least about a relationship has the most power over it. In reality, however, that is not always the case. By providing notice of termination of…
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