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Disponent owners denied indemnity from charterers for US freight tax paid to head owners

Reed Smith LLP
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USA
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April 8 2013

The vessel was the subject of a head and sub charter, both of which provided at clause 83 as follows: “All taxes andor dues on cargofreight andor

Pennsylvania Commonwealth Court strikes down department of revenue's narrow interpretation of the wrapping supply exemption from sales & use tax

Reed Smith LLP
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USA
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October 14 2011

Yesterday, the Pennsylvania Commonwealth Court issued its decision in Procter & Gamble Paper Products Company, holding that returnable shipping pallets are not subject to the state's sales and use tax

PRC tax regimes and time-charter hire payments

Reed Smith LLP
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China
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June 22 2011

There are two PRC tax regimes that levy taxes against hire payments made by PRC time-charterers, the Enterprise Income Tax ("EIT") and the Business Tax ("BT"

Whether charterer entitled to claim tax benefit on termination of ship finance lease

Reed Smith LLP
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United Kingdom
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April 30 2010

In the case of Golden Sunsets Navigation (UK) Ltd v Lloyds Portfolio Leasing Ltd 2010 EWHC 703 (Comm), where the sale of a ship at the end of a finance lease gave rise to a tax loss for the lessor, there was no provision in the lease on its correct interpretation allowing the charterer to claim the amount of that tax benefit

Tax planning for overseas domicilaries acquiring yachts

Reed Smith LLP
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Isle of Man, United Kingdom
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March 12 2008

It has been common for taxpayers to seek to save VAT on the cost of acquisition of a yacht by ensuring that the yacht is acquired by a company in the Isle of Man

Pennsylvania Commonwealth Court upholds its apportionment policy decision in FedEx Ground Package System, Inc. v. Commonwealth

Reed Smith LLP
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USA
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April 30 2007

In a 2006 decision, the Pennsylvania Commonwealth Court agreed with Reed Smith's arguments, and rejected the Department of Revenue’s policyreaffirming the principle that the numerator of an apportionment factor must reflect only in-state activity

Search results

Disponent owners denied indemnity from charterers for US freight tax paid to head owners

Pennsylvania Commonwealth Court strikes down department of revenue's narrow interpretation of the wrapping supply exemption from sales & use tax

PRC tax regimes and time-charter hire payments

Whether charterer entitled to claim tax benefit on termination of ship finance lease

Tax planning for overseas domicilaries acquiring yachts

Pennsylvania Commonwealth Court upholds its apportionment policy decision in FedEx Ground Package System, Inc. v. Commonwealth

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