Maritime agency probing tax effect on W. Coast ports
Oct 17, 2011 | 01:10 PM
| Catherine Ngai
NEW YORK The Federal Maritime Commission has launched an investigation to determine if the harbor maintenance tax (HMT) is hurting West Coast ports.
The federal tax imposed on shipments to the United States was established in 1986 to generate funds to pay for dredging maintenance at ports, with the money placed in a trust fund for use by the U.S. Army Corps of Engineers. Port officials argue, however, that the 0.125-percent tax on a cargos value has had the unintended effect of driving some U.S.-bound cargo through Canadian or Mexican....
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