https://www.taxtmi.com/manuals?id=1406 An option for the tonnage tax regime, once approved and exercised, remains effective for a fixed ten-year period from the date of exercise and is applied from the assessment year relevant to the previous year of exercise. The option ceases for the assessment year relevant to the previous year in which the company stops being qualifying, defaults on scheme compliance obligations, is excluded from the scheme, or furnishes a written declaration electing to withdraw so profits are computed under the Act's other provisions. en-us Tue, 12 Jan 2016 13:00:00 +0530 Tue, 07 May 2024 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1406 An option for the tonnage tax regime, once approved and exercised, remains effective for a fixed ten-year period from the date of exercise and is applied from the assessment year relevant to the previous year of exercise. The option ceases for the assessment year relevant to the previous year in which the company stops being qualifying, defaults on scheme compliance obligations, is excluded from the scheme, or furnishes a written declaration electing to withdraw so profits are computed under the Act's other provisions. Manuals Income Tax Tue, 12 Jan 2016 13:00:00 +0530 https://www.taxtmi.com/manuals?id=1406