Simpler Tax Regime for Foreign Cruise Operators in India
Jul 23, 2024 13:12
India proposes a simpler tax regime for foreign shipping companies operating domestic cruises, aiming to boost cruise tourism and employment in the sector.
New Delhi, Jul 23 (PTI) Finance Minister Nirmala Sitharaman on Tuesday proposed a simpler tax regime for foreign shipping companies operating domestic cruises in the country, with an aim to give fillip to cruise tourism in India.
Presenting the Union Budget for FY25, she said ownership, leasing and flagging reforms will be implemented to improve the share of the Indian shipping industry and generate more employment.
"To give a fillip to this employment generating industry, I am proposing a simpler tax regime for foreign shipping companies operating domestic cruises in the country," she said.
There is tremendous potential for cruise tourism in India, the minister added.
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