Rules related to application for exercising the option for tonnage tax scheme and other matters related to it

The rules.

• (a) An application under section 231(1) to opt in, or under section 231(10) to renew, is made in Form No. 80, verified as the form specifies.
• (b) Deemed tonnage under section 227(4)(b) is computed as in the Table: for purchase of slots and slot charter, 2.5 TEU (twenty-foot equivalent unit) = 1 net tonnage; for sharing of a break-bulk vessel, where cargo is restricted by volume, 19 cubic metres = 1 net tonnage, and where restricted by weight, 14 metric tons = 1 net tonnage.
• (c) The incidental activities in section 228(7) are maritime consultancy charges; income from loading or unloading of cargo; ship management fees or remuneration for managed vessels; and maritime education or recruitment fees.
• (d) The limit for charter-in of tonnage of qualifying ships under section 232(15) to (20) in a tax year is computed by dividing the total chartered-in ton days by the total ton days operated by the company.
• (e) The audit report of a qualified company under section 232(21)(b) is in Form No. 81.