Business
Stmt re Intro. of Tonnage Tax
Stmt re Intro. of Tonnage Tax.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n JAMES FISHER & SONS PLC\n12 August 1999\n\n\nJames Fisher & Sons Welcomes Introduction of Tonnage Tax\n\nDavid Cobb, CBE, executive chairman of Barrow-based James\nFisher & Sons plc, one of the UK's foremost ship owners, with\n44 vessels in its specialist fleet, today welcomed the\nGovernment's decision to introduce a tonnage tax regime in the\nUK. Immediate past President of the Chamber of Shipping,\nwhich had campaigned vigorously for a change in the tax\ntreatment of shipping companies, Mr Cobb said:\n\n'This decision represents a significant milestone for the\nshipping industry in the UK. It levels the playing field for\nUK shipping companies competing with their counterparts in the\nrest of Europe and should have a profound effect on the\nfortunes of British shipping in the wider sense.\n\n'In the financial context, the introduction of tonnage tax\nwill remove the requirement for shipping companies to make\nprovision for deferred taxation. This will impact favourably\non the profit and loss account and balance sheet.\n\n'As a company committed to the future of the British fleet,\nJames Fisher already trains a large number of cadets. I am\ntherefore delighted that the tonnage tax will commit companies\nto develop training and require those companies benefiting\nfrom the new regime to make a corresponding investment in our\nnation's future seafarers.'\n\nIssued on behalf of James Fisher & Sons plc by Tavistock\nCommunications Limited (Contact: Keith Payne, tel 0171 600\n2288)\n\nPress Enquiries: David B Cobb, CBE\n Executive Chairman\n James Fisher & Sons plc\n Tel: 0171 338 5808\n \n \n ","length":1782,"tagName":"div"}]