Thursday, April 2nd3.0°C
25326
22952

Canada's shipping industry dodges a 'massive tax grab' in the U.S.

WASHINGTON - Canada's shipping industry appears to have steered clear of a threatened U.S. cargo tax.

The push for a tax on cargo from Canada and Mexico was excluded from the new Water Resources Reform and Development Act.

The legislation was signed into law today by U.S. President Barack Obama.

The final bill negotiated between the two houses of Congress addresses some complaints from Washington state lawmakers, who say their ports are currently disadvantaged by the American tax system.

But it doesn't include their call for a tiny tax — 0.125 per cent — to be collected by U.S. Customs on all cargo carried into the U.S. via Canadian ports.

Gary Doer, Canada's ambassador to the U.S., says the tax idea would have been a "massive tax grab" and caused traffic problems.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14942.55+40.11
S&P CDNX681.32+1.25
DJIA17698.18-77.94
Nasdaq4880.23-20.66
S&P 5002059.69-8.20
CDN Dollar0.7937+0.0011
Gold1205.50-2.60
Oil49.55-0.54
Lumber274.00+1.00
Natural Gas2.599-0.006

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.010.00
QHR Technologies Inc1.55+0.07
Cantex0.03-0.01
Anavex Life Sciences0.23+0.02
Metalex Ventures0.045+0.005
Russel Metals24.83+0.79
Copper Mountain Mining1.19+0.03
Colorado Resources0.11-0.01
ReliaBrand Inc0.0036-0.0024
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.23-0.02
Decisive Dividend Corporation1.80+0.02

 



25103

FEATURED Property
22499981320 sq ft Industrial Strata Unit + 400 sq ft Mezzanine
$220,000
more details
image2image2
Click here to feature your property
Please wait... loading


Down payment

If you have less than 20% down payment, mortgage insurance is required through Canada Mortgage & Housing (CMHC), Genworth or Canada Guaranty. Homeowners no longer need the minimum 5% down payment ...


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...

_








Member of BC Press Council


25732