Tonnage Income defined as shipping company income computed under special tonnage tax rules determining taxable shipping profits. For purposes of section 115V(j) of the Income Tax Act, 'Tonnage Income' is the income of a tonnage tax company computed in accordance with the provisions of the Chapter on Special Provisions Relating to Income of Shipping Companies.
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Tonnage Income defined as shipping company income computed under special tonnage tax rules determining taxable shipping profits.
For purposes of section 115V(j) of the Income Tax Act, "Tonnage Income" is the income of a tonnage tax company computed in accordance with the provisions of the Chapter on Special Provisions Relating to Income of Shipping Companies.
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