Tonnage income computation uses slab-based ship tonnage, certificate-backed measurement, and no deduction or set-off. Tonnage income of a tonnage tax company is the aggregate of the tonnage income of each qualifying ship, computed by multiplying daily tonnage income by the number of operating days. Daily tonnage income is determined by a slab-wise table based on net tonnage, while tonnage is taken from a valid certificate, includes certain deemed tonnage arrangements, and is rounded to the nearest hundred tons. No deduction or set-off is allowed, and where a ship is operated by multiple companies, income is apportioned according to definite shares or computed as if each were the only operator.
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Provisions expressly mentioned in the judgment/order text.
Tonnage income computation uses slab-based ship tonnage, certificate-backed measurement, and no deduction or set-off.
Tonnage income of a tonnage tax company is the aggregate of the tonnage income of each qualifying ship, computed by multiplying daily tonnage income by the number of operating days. Daily tonnage income is determined by a slab-wise table based on net tonnage, while tonnage is taken from a valid certificate, includes certain deemed tonnage arrangements, and is rounded to the nearest hundred tons. No deduction or set-off is allowed, and where a ship is operated by multiple companies, income is apportioned according to definite shares or computed as if each were the only operator.
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