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Tonnage tax ‘flagging test’: HMRC guidance

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Companies that have elected for the tonnage tax rules to apply to maritime transport activities and start to operate a non-EU/EEA-registered ship during the financial year starting on 1 April 2012 must apply a ‘flagging test’ to determine whether the ship qualifies for tonnage tax, HMRC explained in Revenue & Customs Brief 08/12.

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