Cruise Lines Seek Carve-Out for OECD’s Global Minimum Tax

The OECD should allow a carve-out in the global minimum tax rules for mobile, tangible assets like ships and airplanes, according to an industry group representing cruise lines.

The carve-out should be available if the value of those assets reaches a certain threshold of all the company’s tangible assets in a particular country, the Cruise Lines International Association said in a comment letter dated Oct. 8.

Companies with a significant amount of mobile assets would be at disadvantage if they weren’t able to claim the substance-based exclusion rule that’s part of the global minimum tax, the association said.

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