News Center Policy and Regulatioin
Hot Keywords
GMS: Bangladeshi Scrapping Tax Likely to Be Postponed
Views(806)
Source:World Maritime News

The attempt to reverse the recently imposed 15% value-added tax (VAT) on ships being sent to Indian ship-recycling markets will likely be successful, according to GMS, a cash buyer of ships for recycling.

Namely, the announcement was made after the Bangladesh Shipbreakers Association (BSBA) voiced their concerns to the highest authorities in government in an attempt to reverse VAT on incoming ships.

Additionally, the finance ministry informed that VAT will now be postponed for at least another two years, which should see prices remain at par with those seen in the first quarter of the year.

In early June, ship-recycling sectors in Pakistan and Bangladesh witnessed a decrease in LDT price after the respective countries released their 2017 budget announcements.

The Pakistani budget first brought falls of about USD 10/LDT, “as rumors of an even worse fate for the Bangladeshi market surfaced and were eventually confirmed” by the announcement of their budget.

The Pakistan Shipbreakers Association (PSBA) is due to meet in the coming week in order to address some of the concerns arising from their recent budgetary changes affecting their industry, GMS informed.

< Back to News Center< Policy and Regulatioin
Latest Ship News
Hottest Ships
No.
Class
Built Year
Built Place
MPP
CCS
2006 Built
China
Container
CCS
2016 Built
China
Crane Barge
KST
1986 Built
Japan
Product Oil Tanker
ZC
1996 Built
China
Ro-Pax/Ferry
LR
1975 Built
Canada
Home About Us Contact Us Help Center Advertising

Copyright © 2006-2017 沪公网安备 31011502004435号  Eshiptrading.com All Rights Reserved