Trump Admin vows to end cruise tax loophole

Friday, 21 Feb, 2025 0

The US Administration is targeting the cruise industry to pay more tax, claiming cruise lines are avoiding their fare share due to flags of convenience.

New US commerce secretary Howard Lutnick says it is time they paid up and not hide behind  ship registrations in foreign jurisdictions.

Lutnick claimed ‘none of them pay taxes.’

“You ever see a cruise ship with an American flag on the back? They have flags of like Liberia or Panama, he told Fox News.

The comments have seen cruise ship stock prices sink.

The big three – Royal Caribbean, Norweigian Cruise Line and Carnival Corporation are all headquartered in Miami but incorporated overseas in Liberia, Bermuda and Panama respectively.

“This is going to end under Donald Trump and those taxes are going to be paid and Americans’ tax rates are going to come down,” Lutnick added.

CLIA responded, saying: “Cruise lines pay substantial taxes and fees in the US to the tune of nearly $2.5 billion, which represents 65% of the total taxes cruise lines pay worldwide.”



Related News Stories:  Trump Admin vows to end cruise tax loophole     US commerce secretary vows 'end' to tax loopholes used by cruise ...     Tax News & Views IRS Layoff and Sticky Bun Roundup     Donald Trump seeks to close tax loophole enjoyed by private equity ...     What Trump has promised for his 2nd administration | PBS News     US commerce secretary vows 'end' to tax loopholes used by cruise ...     Here's where Donald Trump stands on key policies ahead of his ...     US election 2020: Has Trump delivered on his promises? - BBC News     Senate GOP unveils $340 billion budget plan with Trump's ...     Royal Caribbean, cruise stock sink after Trump official vows more ...    



 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...