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of <h1>Tonnage-tax rules define relevant shipping income, limit incidental income, require market-value testing and cite section 206(1)(c)</h1> For tonnage-tax companies the provision defines 'relevant shipping income' as profits from listed core shipping activities and prescribed incidental activities, excludes incidental income above 0.25% of core turnover from tonnage treatment, requires market-value testing for transfers to non-tonnage businesses, mandates reasonable allocation of shared costs and depreciation, and directs that relevant shipping book profit/loss be excluded from book-profit computations under section 206. The enacted Act mirrors the Bill substantively but narrows the book-profit exclusion by specifically referencing section 206(1)(c), increasing precision without altering other compliance obligations.
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