China Eliminates 6% VAT

China Eliminates 6% VAT

Last year we informed you of a new 6% value added tax (VAT) imposed by the Chinese government on international transportation charges paid in China. Freight charges are now officially exempt from this tax, according to a news release posted on the Federal Maritime Commission's (FMC) website. The FMC reports that this exemption, which went…

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2014 Ocean Shipping Outlook

2014 Ocean Shipping Outlook

2014 will usher in a record year of ship deliveries for worldwide trade, according to ocean liner analyst Alphaliner. Capacity topping 1.6 million TEU’s (twenty-foot equivalent units) will join the trade this year with 17 of the top 20 carriers adding vessels to their fleets. Vessel size is increasing in anticipation of the Panama Canal…

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