Owner of Ruby Princess cruiser pays no company tax in Australia

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Owner of Ruby Princess cruiser pays no company tax in Australia
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Exclusive: The company behind the Ruby Princess cruise liner at the centre of the country's coronavirus outbreak pays no company tax in Australia | mevanssmh carriefellner

The Ruby Princess, registered in tax haven Bermuda, appears to be one such ship. Professor Cheer said cruise companies paid "very little tax" in Australia.

Saudi Arabia's sovereign wealth fund last week emerged with an 8 per cent stake in Carnival Corporation & plc after a $US6 billion emergency recapitalisation due to the coronavirus. The Australian operations have contributed strongly to the company’s profitability since a $US400 million writedown in 2017.

The company had aggressively moved to bring popular brands into its stable and had pioneered a less formal style of cruising, he said. "The cruising industry is acutely sensitive to customer perceptions and concerns, particularly relating to health and safety," an Australian parliamentary inquiry found in 2013, noting "sharp declines" in passenger numbers following September 11 attacks and the SARS epidemic.

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