The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping.

MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004

Make sure you know how the new tax rules work!

February 22, 2005

EU coast guard by 2006?

The European Parliament has adopted a legislative resolution demanding strict EU sanctions against illegal oil pollution in EU waters.

Ship-source discharges of polluting substances will in the near future be regarded as criminal offenses if committed with intent, recklessly or by gross negligence. In the most serious cases prison sentences may be imposed.

At Parliament's request, the European Commission will compile a feasibility study on the setting up of a European coast guard service. This study should be followed by a proposal on an EU coast guard by 2006.

Members of the European Parliament also demanded that the European Maritime Safety Agency EMSA assist Member States in tracing illegal discharges by providing satellite monitoring and surveillance.

Rapporteur Corien WORTMANN-KOOL (EPP-ED, NL) said this was a great success for Parliament, as Council at an earlier stage was against EU sanctions. The European Council of Ministers had argued that this was a Member State's competence.


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