Tax

December 7, 2007 - 5:34am

A plan implemented last year to offset the city and county tax burden on airplane owners at Pitt-Greenville (N.C.) Airport has attracted more aircraft owners to the airport. The Greenville City Council and Pitt County Board of Commissioners each unanimously voted to continue funding this year for a stimulus plan that provides about $150,000 in credits to aircraft owners. The two governments will split the cost equally.

October 31, 2007 - 11:58am

The Senate Finance Committee has approved a bill that would repeal the onerous “fuel fraud” provision enacted into law as part of the 2005 Highway Bill. Although the law dealt with surface transportation, it contained a provision that aviation jet fuel taxes be collected at the highway diesel fuel rate of 24.4 cents per gallon as opposed to the aviation rate of 21.9 cents per gallon.

October 31, 2007 - 11:12am

A law recently approved by the California State Assembly would assess all fractional ownership flights in the state with personal property taxes, according to the National Air Transportation Association (NATA). The legislation stipulates that all flights operated under a fractional ownership program in California would be subject to the property taxes of the county in which the operation occurs.

October 9, 2007 - 11:47am

According to the National Air Transportation Association (NATA), a law recently approved by the California State Assembly would assess all fractional ownership flights in the state with personal property taxes.

September 26, 2007 - 10:43am

The Russian government has halved the import tax on large business jets from 20 to 10 percent. The country’s Ministry of Economic Development and Trade confirmed the duty reduction in late August and announced that initially this will apply to aircraft weighing between 15 and 20 metric tons (33,068 to 44,091 pounds). The import duty reduction will cut approximately $2.2 million from the cost of importing a new Gulfstream G200, for example.

September 26, 2007 - 10:17am

The Danish government is preparing to impose a 25-percent value-added tax (VAT) on imported aircraft to close a loophole that has allowed owners to bypass taxes due in other European Union countries. Aircraft imported for “personal transportation” are currently zero-rated for VAT purposes in Denmark, and this has exempted just about all aircraft applications apart from gliders and other forms of recreational flying.

September 18, 2007 - 12:04pm

The Danish government is preparing to impose a 25-percent VAT sales tax on imported aircraft to close a loophole that has allowed owners to bypass taxes due in other European Union countries. Aircraft imported for “personal transportation” are currently zero-rated for VAT purposes in Denmark, and this has exempted just about all aircraft applications apart from gliders and other forms of recreational flying.

September 18, 2007 - 11:56am

The House Ways and Means Committee today passed H.R.3539, a tax code modification companion bill to H.R.2881, the House FAA reauthorization legislation. In a victory for general aviation groups, the committee voted to keep airline taxes, including the airline fuel tax, at existing levels. Under the legislation, avgas taxes would increase from 19.3 to 24.1 cents per gallon and the jet-A tax would rise from 21.8 to 35.9 cents per gallon.

September 4, 2007 - 11:24am

The Russian government has halved the import tax on larger business jets from 20 to 10 percent, according to the country’s Ministry of Economic Development and Trade. This reduction initially will apply to aircraft weighing between 15 and 20 metric tons (33,069 to 44,092 pounds), though Russian officials have indicated they intend to extend the tax break to smaller business aircraft and eventually scrap the import duty altogether.

August 29, 2007 - 5:12am

With Congress out of town for its “summer district work period,” there was little action on the FAA’s reauthorization bill, and the nagging question of how to fund the agency for the next four years hung over the legislature as the September 30 deadline loomed.

Lawmakers departed early last month for a 25-day hiatus, but the rhetoric between the nation’s airlines and general aviation over user fees continued apace.

 
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