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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 229 apportions written-down value between tonnage-tax qualifying vessels and other vessels and creates a separate qualifying-asset block</h1> Clause 229 prescribes apportionment of tax written-down value (WDV) between tonnage-tax qualifying vessels and other vessels, creates a separate qualifying-asset block, and treats depreciation as if apportioned WDV were carried forward; it requires day-pro-rata allocation when use changes and applies capital-gains provisions to qualifying-block WDV. Key enactment changes from the introduced bill: inclusion of inland vessels, shifting the reference date for the WDV base from the preceding year-end to the tax-year start, and omission of an express statutory definition of 'written down value,' which may affect coverage, timing and computation of depreciation and gains.
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