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of <h1>Tonnage-tax company income: per-ship daily rates times days, rounding rules for tonnage, no deductions, share apportionment</h1> Tonnage income for a tonnage-tax company equals the sum of tonnage incomes of each qualifying ship, each computed as daily tonnage income (per prescribed slab rates based on net tonnage) multiplied by days operated in the tax year. Tonnage includes certificate-indicated tonnage and prescribed deemed tonnage (e.g., slot arrangements), rounded to the nearest hundred tons by specified rules. No deductions or set-offs are permitted in computing tonnage income. Where a qualifying ship is operated jointly with ascertainable shares, income is apportioned by share; otherwise each operator computes tonnage income as if sole operator. Valid certificates or prescribed licences determine tonnage.
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