How Some Cruise Lines Avoid Taxes

Get the 5-minute newsletter keeping 2M+ innovators in the loop: https://thehustle.co/ Major cruise lines in the US make billions of dollars a year, but did you know most cruise lines are exempt from paying federal taxes because they fly the flags of other countries? According to international maritime law, “there must exist a genuine link between the State and its ship… ” in order for a ship to fly that State’s flag. Critics of the cruise industry argue that flags are flown solely for economic reasons...to avoid paying millions of dollars in US taxes. To watch the full video about the economics of cruise ships, check out this link: https://youtu.be/lUE5MD9I_ck