The Triton

Where in the World

Status update expected for deferred importation efforts

ADVERTISEMENT

This morning’s press conference has been cancelled. The Triton will report progress on this issue as it becomes available.

Original news posted April 17, 1:57 pm

U.S. Congresswoman Lois Frankel (Democrat from Florida) will host a press conference next Tuesday, April 25, to update the brokerage community on the status of the effort to remove federal laws barring the sale of foreign-flagged yachts to U.S. citizens while in U.S. waters.

The bill, known as deferred importation, would permit owners of foreign-flagged yachts to pay duty at the time the vessel is sold rather than when it enters U.S. waters for sale.

“Studies show that implementation of deferred importation would generate thousands of industry-related jobs and encourage $2.46 billion in additional U.S. recreational marine sales and economic activity,” said Staley Weidman, chairman of IYBA’s Legislative Affairs Committee. “It’s time to remove this onerous restriction, which prevents job creation and discriminates against U.S. residents while in their own country.”

Congresswoman Frankel will address the issue at 9:30 a.m. at Palm Harbor Marina, 400 N. Flagler Drive in West Palm Beach (33401).

Related Posts...
Foreign trade zone offers new options for foreign-flagged yachts By Read more...
By Dorie Cox Wednesday worked. For as long as most Read more...
About 105,000 buyers, sellers and browsers visited the Fort Lauderdale Read more...
Crow’s Nest Yachts brokerage, based along San Diego’s Shelter Island, Read more...
Online registration for the 2018 Refit International Exhibition & Conference Read more...

Share This Post

Leave a comment

Your email address will not be published. Required fields are marked *

Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

Editor’s Picks

FLIBS17: Show tests yacht sale in duty-free FTZ

FLIBS17: Show tests yacht sale in duty-free FTZ

Foreign trade zone offers new options for foreign-flagged yachts By Dorie Cox M/Y Clorinda is able to do what few other …

FLIBS17: New FLIBS dates get rave reviews

FLIBS17: New FLIBS dates get rave reviews

By Dorie Cox Wednesday worked. For as long as most people remember, the Fort Lauderdale International Boat Show has started on Thursday …

USVI Charter Yacht Show previews season, post-hurricane cruising grounds

USVI Charter Yacht Show previews season, post-hurricane cruising grounds

By Carol Bareuther It felt like business as usual at the USVI Charter Yacht Show, hosted by the newly formed Virgin Islands Professional …

Gallery: Triton Networking at Longbow Marine

Gallery: Triton Networking at Longbow Marine

Nearly 300 captains, crew and industry pros joined us last night for Triton Networking at chandlery Longbow Marine in Fort Lauderdale. Low …

Featured Listings