India introduces tax breaks for foreign cruise operators to boost tourism and create jobs.

The Indian government has introduced tax exemptions for foreign cruise operators to boost cruise tourism. Under new amendments to the Income-Tax Rules, foreign companies leasing cruise ships in India can receive exempted income from related companies. This presumptive taxation system requires cruise ships to have a capacity of over 200 passengers or be longer than 75 meters, and must operate scheduled voyages touching at least two Indian ports. The move aims to stimulate tourism and create jobs, targeting 1 million passengers and 400,000 jobs by 2029.

2 months ago
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