Tax Policy: Uncertain Impact of Repealing the Deferral for Reinvested Shipping Income
GGD-90-35
Published: Mar 26, 1990. Publicly Released: Mar 30, 1990.
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Highlights
Pursuant to a congressional request, GAO reviewed the effects of repealing the tax deferral for foreign-earned shipping income, focusing on the: (1) generation of additional tax revenues; and (2) availability of merchant ships planned for use in national emergencies.
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Topics
Defense contingency planningFederal taxesIncome taxesInvestments abroadMerchant marineShipping industryTax exempt statusTax lawShipsTaxes