India Proposes Simpler Tax Regime to Boost Cruise Tourism

Finance Minister Nirmala Sitharaman has proposed a simplified tax regime for foreign shipping companies operating domestic cruises in India. The measure aims to enhance cruise tourism, attract global tourists, and increase employment. New tax provisions and amendments will take effect from April 1, 2025.

Finance Minister Nirmala Sitharaman on Tuesday proposed a simpler tax regime for foreign shipping companies operating domestic cruises in India, aiming to boost cruise tourism.

Presenting the Union Budget for FY25, she highlighted plans for ownership, leasing, and flagging reforms to enhance the domestic shipping industry's share and create more jobs.

''To boost this employment-generating industry, I am proposing a simpler tax regime for foreign shipping companies operating domestic cruises,'' she declared. Sitharaman emphasized the untapped potential of cruise tourism in India.