Which Party Should Collect Federal Excise Taxes?

Companies and individuals often grapple with the tax complexities involved with operating a business aircraft, with federal excise tax (FET) obligations a common area of uncertainty. Tax experts encourage operators to conduct an FET analysis any time money is moved to pay for aircraft operations.

Effective Jan. 5, 2023, at 12:01 a.m. (EST), all passengers ages 2 and older, originating from China on flights to the U.S., will require proof of a negative COVID-19 test no more than two days prior to their departure from China, Hong Kong or Macau, regardless of nationality or vaccination status.

Hong Kong recently announced the “lifting of compulsory quarantine requirement on arrival at Hong Kong.”

Evolving travel and entry requirements continue to challenge business aircraft operators flying into Canada more than a year after the country reopened to international travelers.