This paper analyses the role of taxation in the international allocation of resources within the tramp shipping industry. It is argued that taxation is responsible for the majority of the variation between the cost structures of tramp ship owners of different nationalities with implications for national competitiveness and the incentive to invest. The variation in the cost of taxation among eight prominent maritime nations is demonstrated using a framework which quantifies the total tax charge faced by the owners – corporate, if any, and personal. In the most highly taxed regime it is shown that taxation could potentially increase the time charter hire required for a new, Panamax dry bulk carrier by as much as US$ 4600 per day, 43% above the break-even rate for a similar investment in a tax-free environment. However, where shipping income is subject to taxation, the support affored through fiscal non-neutrality or the absence of anti-avoidance measures may mitigate the tax burden even when tax rates are relatively high.


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    Titel :

    Tramp shipping: The role of taxation in international resource allocation


    Beteiligte:

    Erschienen in:

    Erscheinungsdatum :

    1997-01-01


    Format / Umfang :

    23 pages




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Elektronische Ressource


    Sprache :

    Unbekannt




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