Qualifying ship definition: registration, net tonnage certification and use based exclusions determine tax regime eligibility. A ship qualifies for the special shipping tax chapter only if it is a sea going vessel above the net tonnage threshold, registered under the Merchant ... Summary
Qualifying ship definition: registration, net tonnage certification and use based exclusions determine tax regime eligibility.
A ship qualifies for the special shipping tax chapter only if it is a sea going vessel above the net tonnage threshold, registered under the Merchant Shipping Act or licensed if foreign registered, and holds a valid net tonnage certificate; listed vessel types and ships used primarily for certain land like services or used as fishing vessels beyond a specified period are excluded.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
