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Avoidance of tax

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Full Text of the Document

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....ts to an abuse of the tonnage tax scheme. (2) For the purposes of sub-section (1), a transaction or arrangement shall be considered an abuse if the entering into or the application of such transaction or arrangement results, or would but for this section have resulted, in a tax advantage being obtained for- (i) a person other than a tonnage tax company; or (ii) a tonnage tax company in r....

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