Germany: Seaport industry calls for import turnover tax review

4.10.2017

Germany: Seaport industry calls for import turnover tax review
Die Welt, 04 Oct 2017, online:-
The German seaport industry is pushing for a change in foreign trade tax law from the German federal government. The tax in question is import turnover tax - the tax that importers must pay to customs when importing goods to Germany. The importers are later reimbursed by their tax authorities, but it can take weeks or months. This ties up considerable liquidity for importers, and it makes German seaports less competitive compared to their Dutch and Belgian counterparts. Organisations such as the chamber of commerce in Hamburg, Germany and the central association of German seaport companies have urged that this issue be discussed during coalition negotiations to form the next federal government.
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