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04 August 2020 The on-line newspaper devoted to the world of transports 10:28 GMT+2

March 2, 2000

Budget provides fiscal incentive for acquisition of ships

Exim News Service

New Delhi, March 1

The Union Finance Minister, Mr Yashwant Sinha, has, in his 2000-01 Budget proposals, exempted tax on shipping companies' profits that are appropriated into a special reserve, earmarked for the acquisition of new vessels.

This means shipping companies can reserve part of their profit (up to twice the paid-up capital) in ......
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