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US commerce secretary vows ‘end’ to tax loopholes used by cruise lines

Commerce Secretary Howard Lutnick stated that the federal government would end tax loopholes used by cruise operators during an appearance on Fox News.
Lutnick highlighted that cruise ships often fly flags of Liberia or Panama, which means they do not pay U.S. taxes.
Cruise companies, including Royal Caribbean and Norwegian, have made profits post-Covid-19 due to increased travel demand.
Lutnick stated that under the Trump administration, these tax issues would be resolved.

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Bloomberg

Lutnick’s Tax Comments Give Cruise Operators Case of Deja Vu

Cruise operators may yet avoid paying more US corporate taxes despite threats from US Commerce Secretary Howard Lutnick to close favorable loopholes.

21 hours ago·United States

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MarketWatch

Will cruise operators actually have to pay U.S. taxes? The prospect is hurting their stocks.

Commerce Secretary Howard Lutnick said the Trump administration will start making cruise companies pay U.S. taxes.

2 days ago·United States

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Financial Times

US commerce secretary vows ‘end’ to tax loopholes used by cruise lines

Howard Lutnick says ‘none’ of the sector’s big players pay taxes

2 days ago·London, United Kingdom

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sherwood.news

Cruise stocks sink after tax warning from US commerce secretary

Cruise stocks hit choppy waters as investors fear operators could soon face more taxes.

2 days ago

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CNBC

Cruise stocks tumble after Commerce Secretary Lutnick signals tax crackdown

Shares of cruise lines tumbled Thursday after Commerce Secretary Howard Lutnick suggested the Trump administration would crack down on taxes paid by the companies.

2 days ago·United States

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