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          Effect of temporarily ceasing to operate qualifying ships - Section 115VZA

          Tonnage Taxation

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          Temporary cessation of ship operation treated as continuing operation, but temporarily disqualified vessels are excluded from qualifying status. A temporary cessation in operating a qualifying ship is deemed not to be a cessation and the company is treated as operating that qualifying ship; however, if a qualifying company continues to operate a vessel that temporarily ceases to qualify, that vessel shall not be considered a qualifying ship for the purposes of the Chapter, with the provision amended to include inland vessels within the non-qualifying treatment.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Temporary cessation of ship operation treated as continuing operation, but temporarily disqualified vessels are excluded from qualifying status.

                                A temporary cessation in operating a qualifying ship is deemed not to be a cessation and the company is treated as operating that qualifying ship; however, if a qualifying company continues to operate a vessel that temporarily ceases to qualify, that vessel shall not be considered a qualifying ship for the purposes of the Chapter, with the provision amended to include inland vessels within the non-qualifying treatment.





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