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of <h1>Tonnage tax companies must transfer 20% book profits to reserve account, utilize within 8 years for ships or qualifying operations</h1> Tonnage tax companies must transfer at least 20% of book profits from core and incidental activities to a Tonnage Tax Reserve Account annually. Where book losses from other sources prevent full reserve creation, shortfalls carry forward to the following year. Reserved amounts must be utilized within 8 years for acquiring new ships or qualifying business operations, excluding dividend distribution or foreign remittances. From April 2026, inland vessels are included alongside ships. Misutilization, non-utilization, or premature disposal within three years of acquisition results in taxation under regular provisions. Companies failing to create minimum reserves face partial exclusion from tonnage tax benefits, with shortfall amounts taxed under standard provisions.
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