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10 Loy. Mar. L.J. 91 (2011-2012)
Keeping U.S. Trade and International Shipping Afloat while the Global Economy Sinks: U.S. Tax Incentives and Procedure concerning Foreign Shipping Companies

handle is hein.journals/loymarlj10 and id is 103 raw text is: KEEPING U.S. TRADE AND
INTERNATIONAL SHIPPING AFLOAT
WHILE THE GLOBAL ECONOMY SINKS: U.S.
TAX INCENTIVES AND PROCEDURE
CONCERNING FOREIGN SHIPPING
COMPANIES
Richard D. Lamb IHI
I. INTRODUCTION
The sinking global economy has changed the topography of
the business world, especially the international shipping
industry.' Many commentators and economists have argued that
a global recovery is currently under way, but it is much more
protracted compared to the recoveries following past recessions.2
Due to volatile markets and government policies, businesses
throughout the world, including shipping companies, are looking
for any opportunities for investment and growth. Business is
increasingly international, and while the need for tax revenue
remains essential to governments with fragile economies and
fiscal deficits, attracting foreign investment capital remains
desirable.3 This capital can boost production, employment, GDP,
and tax revenue.4 The objectives of many companies include
maximizing the return to shareholders, and one significant way
to accomplish this is paying lower amounts of tax in the different
*  J.D., Certificate in Taxation Law, Candidate 2012, Loyola University New
Orleans College of Law. Special thanks to Prof. Cynthia Lepow for her guidance.
1. United Nations Conference on Trade and Development: Review of Maritime
Transport, pg. xiv, http://www.unctad.org/en/docs/rmt2010_en.pdf (last visited Oct. 1,
2011).
2.  Id.
3. Craig Elliffe, International Tax Avoidance-The Tension Between Protecting
the Tax Base and Certainty of Law, University of Auckland-Faculty of Business
& Economics, (March 16, 2011), http://papers.ssrn.com/sol3/papers.cfm?abstract-id
=1787843 (last visited Apr. 8, 2011).
4.  Id.

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