Commentary

D7.1003A Qualifying conditions—operating a ship

Corporate tax
Corporate tax | Commentary

D7.1003A Qualifying conditions—operating a ship

Corporate tax | Commentary

D7.1003A Qualifying conditions—operating a ship

A company will be regarded as operating a ship if:

  1.  

    (a)     it owns a ship or a ship is chartered in to it; or

  2.  

    (b)     a ship has been chartered out by it on bareboat charter terms by it and either—1

    1.  

      (1)     the charter is not to a third party;

    2.  

      (2)     the ship has been chartered out because of short term over-capacity and the bareboat charter does not exceed three years. The company must have a legitimate reason for considering that the surplus capacity is short term; or

    3.  

      (3)     the ship is registered in

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