https://www.taxtmi.com/acts?id=49224 Tonnage tax scheme provides an optional tax regime where a company operating qualifying ships computes profits from that business as tonnage income. Companies operating ships include ownership or various charter arrangements but exclude vessels chartered out on bareboat or bareboat-cum-demise terms beyond three years. The tonnage tax business is treated as a separate business with profits computed and accounted for separately; tonnage income is deemed profits under business and gains, and specified relevant shipping income is not chargeable to tax. en-us Fri, 14 Feb 2025 17:48:46 +0530 Fri, 14 Feb 2025 17:48:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49224 Tonnage tax scheme provides an optional tax regime where a company operating qualifying ships computes profits from that business as tonnage income. Companies operating ships include ownership or various charter arrangements but exclude vessels chartered out on bareboat or bareboat-cum-demise terms beyond three years. The tonnage tax business is treated as a separate business with profits computed and accounted for separately; tonnage income is deemed profits under business and gains, and specified relevant shipping income is not chargeable to tax. Act-Rules Bills Fri, 14 Feb 2025 17:48:46 +0530 https://www.taxtmi.com/acts?id=49224