US Department of State Terminates Shipping Tax Treaty with Hong Kong

US Department of State Terminates Shipping Tax Treaty with Hong Kong.
Section 883 exemption implied wherein a non-US entity treated as a corporation for US tax purposes is generally subject to a gross freight tax on income earned from voyages to or from the US
As a result of the termination of the Shipping Tax Treaty, Hong Kong entities and individual residents will no longer be eligible to claim the Section 883 exemption and may be subject to the gross freight tax on voyages to or from the...