Tonnage tax for Japan

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Tokyo: Japan will apply the tonnage tax system to 10 domestic ocean-going shipping companies over five years from fiscal 2009, which starts in April. The Ministry of Land, Infrastructure, Transport and Tourism made the announcement March 24 after it approved earlier in the day the 10 shipping companies' plans to increase Japanese registered vessels and sailors.  This brings to an end a frustrating decade for owners trying to get this tax in place. [25/03/09]