Latest news from Heavy Lift & Project Forwarding International Magazine

AAPA pleased with final tax bill

The US Congress has passed the final Tax Cuts and Jobs Act legislation, including provisions related to tax-empt bond financing and wind energy production tax credits.

The American Association of Port Authorities (AAPA) has welcomed the legislation, which the organisation says addressed several important tax related policy priorities.

"Public port authorities throughout the country are investing billions of dollars in needed infrastructure improvements. With private activity bonds (PABs) providing a significant source of financing for these projects, AAPA worked with several transportation and bond-related coalitions to strongly advocate against the elimination of tax exempt status for PABs," explained Kurt Nagle, AAPA's president and ceo. 

"We're extremely pleased that the final legislation keeps the tax-exempt status for PABs. This provision will help foster investments, not just in and around ports, but also in needed infrastructure development throughout the nation.

"It was estimated that ports would have had to pay approximately USD19 million in extra debt service costs for every USD100 million borrowed had the PAB tax exemption been lost. These significantly increased costs would have harmed ports' ability to make needed investments, and likely would have delayed or even killed some projects," said Nagle.

The organisation also praised the continuation of the existing level of wind energy production tax credits as another "win" for ports, and for all engaged in wind energy.

The association, along with other groups, had also urged continuation of the tax-exemption on advance refunding of municipal bonds. However, the final legislation takes away the tax-exempt status of advance refunding, which is likely to increase the cost of public infrastructure investments.

 

 

www.aapa-ports.org

Heavy Lift | News

Verdicts announced in fraud trial thumbnail image

Verdicts announced in fraud trial

November 28 - On November 27, verdicts were announced at the UK's Southwark Crown Court regarding logistics activities relating to ConocoPhillips' Jasmine North Sea oil exploration project.
Views: 3854
Industry seeks clarity ahead of Sulphur 2020 thumbnail image

Industry seeks clarity ahead of Sulphur 2020

October 3 - A survey conducted by global shipping consultancy Drewry reveals that there is considerable unease among global shippers/beneficial cargo owners (BCO) and freight forwarders ahead of the IMO’s sulphur 2020 emissions regulations.
Views: 3148
FROM THE MAGAZINE: Navigating changes to anti-bribery enforcement thumbnail image

FROM THE MAGAZINE: Navigating changes to anti-bribery enforcement

June 11 - With the US Department of Justice providing incentives for companies to voluntarily disclose any corruption they uncover, there is a stronger reason for companies to self-police, explains Robert Clark of TRACE International in HLPFI's July/August edition.
Views: 5925
Germany set to increase HGV tolls thumbnail image

Germany set to increase HGV tolls

May 25 - The German cabinet has passed the fifth Federal Road Toll Act (Bundesfernstraßenmautgesetz). Starting January 1, 2019, there will be an increase in the tolls imposed on heavy goods vehicles (HGV).
Views: 6994

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.