TTM14010 - Exiting Tonnage Tax: Types of exit

Expiry of election

An election into Tonnage Tax is for a minimum period of 10 years. At the end of that period the company or group will leave Tonnage Tax. For a company, the date will be 10 years from the election first taking effect (paragraph 13(1)(a)). For a group, the date will be 10 years from the first day the election took effect for any group company (paragraph 13(1)(b)).

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