Schaeuble to Tax Insurance on Idle Container Ships, FTD Says
Schaeuble to Tax Insurance on Idle Container Ships, FTD Says
July 30 (Bloomberg) — German Finance Minister Wolfgang Schaeuble has drawn the ire of his country’s shipowners after unveiling a plan to tax insurance paid on idle freighters, the Financial Times Deutschland reported.
Schaeuble wants to add a 19 percent levy on premiums paid to the Containership Association, which currently insures 150 lease ships that lack commissions, the newspaper said, without citing anyone. The move has angered shipowners struggling to find work for their freighters amid low leasing costs, the FTD said.
To contact the reporter on this story: Brian Parkin in Berlin at
bparkin@bloomberg.net
To contact the editor responsible for this story: James Hertling at
jhertling@bloomberg.net
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