ECB and Capital agins query relating to a shipping company.

Tax planning 584 views 1 replies

1.     Can ships be treated as capital goods with respect to a shipping company? If yes, is approval required if shares are issued as consideration for purchase of ships from a non-resident?

 

2.     Can a shipping company avail of ECB from a non-resident shareholder?

Replies (1)

Normally there is a seprate Article on DTAA's regarding the ships which covers the sale of ships also. Kindly check the same .

 

Yes shipping Company can avail ECB provided ECB guidelines are followed.

 

Anuj

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