The Danish government is preparing to impose a 25-percent VAT sales tax on imported aircraft to close a loophole that has allowed owners to bypass taxes due in other European Union countries. Aircraft imported for “personal transportation” are currently zero-rated for VAT purposes in Denmark, and this has exempted just about all aircraft applications apart from gliders and other forms of recreational flying.
AINalerts » September 18, 2007
Snecma plans to unveil a mock-up of its 9,500- to 12,000-pound-thrust Silvercrest engine, as well as divulge more details about the project, at the NBAA Convention in Atlanta next week. The French engine manufacturer also confirmed that it will run a Silvercrest core engine in the fourth quarter.
On Thursday afternoon, Pogo Jet filed a registration statement with the Securities and Exchange Commission for an initial public stock offering to raise money to launch Pogo’s very light jet air charter service. In the filing, Pogo Jet said that it is negotiating the purchase of 25 Eclipse 500s and plans to begin operations in the first quarter of 2009 from a base at Westover Metropolitan Airport in Chicopee, Mass.
In a study released today entitled “The Market for General Aviation/Utility Aircraft 2007-2016,” Forecast International said it anticipates a decline in corporate demand for twin turboprops in favor of the fractional ownership of turbofan-powered aircraft. Further, it expects this trend to accelerate as more sub-$4 million very light jets are delivered.
The House Ways and Means Committee today passed H.R.3539, a tax code modification companion bill to H.R.2881, the House FAA reauthorization legislation. In a victory for general aviation groups, the committee voted to keep airline taxes, including the airline fuel tax, at existing levels. Under the legislation, avgas taxes would increase from 19.3 to 24.1 cents per gallon and the jet-A tax would rise from 21.8 to 35.9 cents per gallon.