Private jets receive ludicrous tax breaks that hurt the environment

Transport - The Economist - Key Takeaway: *...But the boom is also a result of tax breaks, which are even more generous than those lavished on ordinary airlines. In Europe firms and individuals can avoid paying value-added tax on imported private jets by routing purchases through the Isle of Man. This scheme has cut tax bills by £790m ($1bn) for imports of at least 200 aircraft into the European Union since 2011. America’s rules are loopier still. Donald Trump’s tax reform allowed individuals and companies to write off 100% of the cost of a new or used private jet against their federal taxes.*

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