Sunday, March 05, 2017

Slash taxes to support aviation to drive economic growth: IATA

New Delhi: Global airlines’ body IATA has asked governments across the world to slash taxes and support the aviation sector through improved infrastructure to drive economic growth, generate employment and connect people.
“Our world has grown much wealthier through trade and travel. Air travel liberates people to live better lives and makes our world a better place… Aviation is the business of freedom and we must continue to work together to make it so,” Alexandre de Juniac, IATA’s Director General and CEO, said at the US Chamber of Commerce 2017 Aviation Summit in Washington.
Making a strong plea for reducing the tax burden on airlines, he said the ‘Airlines for America’ (body of major US carriers) “estimates that taxes account for more than a fifth of the cost of the average domestic ticket.
“In a country as big, beautiful and full of opportunity as the US, why have a taxation policy that discourages travel? Travel stimulates the economy with tourism dollars and business development. We hope that the Trump Administration will create jobs by dramatically reducing the tax burden on travel.”
Contending that the aviation sector in the US contributed USD 680.1 billion to GDP and supported 6.2 million jobs, de Juniac sought a reduction in the tax burden on aviation and air travellers, besides a new approach to the provision of air traffic services.
05/03/17 PTI/Financial Express

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