TTM06470 - Relevant Shipping Profits: Distributions from qualifying overseas shipping companies

CFC legislation

A tonnage tax company is not subject to any liability under the CFC legislation in respect of the profits of a CFC, if in that period any distributions received by the company from that CFC would have been relevant shipping income, (see TTM07100).

References

FA00/SCH22/PARA54(1) (controlled foreign companies)

TTM17311