Vancouver harbour and Teekay expansion
Shipping companies are building Vancouver Harbour into a leading maritime hub
This article is relevant to Alfa Laval's sales of water/solids seperators centrifuges for municipal wastewater and shipboard environmental equipment for shipping fleets operating in Canada.
Read the brief of the article below, the full article is on: Maritime Executive website
...Teekay moved to Vancouver in 1992. Following that fortuitous move, activity in the VIMC was wound down as the effects of the new regime took hold. But after two decades, the need arose to make further modifications to the Canadian tax regime. Vancouver-based shipping companies played a central role, sitting down with government officials “to modernize the income tax act,” as Arsoniadis-Stein puts it.
Now Canada offers foreign-owned shipping businesses some of the best terms available anywhere, including:
• No tax on international shipping activities undertaken in Canada, including management and financing activities
• No tax on a non-resident company’s foreign sourced income
• No capital gains tax on vessels sold outside of Canada
• Tax-friendly capital access and ship financing...
Read the full article, link on: Maritime Executive website
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