Post-Brexit Tax Cut for Shipping Industry Coming in 2022: Sunak

The U.K. will overhaul and broaden access to its shipping taxation regime, Chancellor of the Exchequer Rishi Sunak will announce in his autumn budget Wednesday.

The U.K.'s shipping industry tax system is set for a “major post-Brexit overhaul” as the country aims to “attract more of the world’s largest shipping companies to UK shores,” a Treasury press release said.

• “Now we have left the EU, it’s time for us to do even more to help the UK shipping industry to grow and compete in the global market,” Sunak said in the Oct. 24 release.
• The U.K.'s tonnage tax regime, introduced ...