FMC Expresses Concern Regarding Application of China’s VAT
The Federal Maritime Commission (FMC) expressed concern at a Sept. 18 meeting regarding application of China’s Value-Added Tax (VAT) Program and its potential negative impacts on ocean-borne international commerce between the U.S. and China. In response to requests for assistance…
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from members of the shipping industry (See 13081511), FMC is now considering options to “obtain further clarity” on the VAT program.