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Training commitments linked to tonnage tax
Applicable to:
Indian shipping companies exercising tonnage tax option
Effective Date:
1 January 2005
Superseded Circulars:
None
Key Changes and Requirements
1. Training Commitments
Tonnage tax companies must provide training to one trainee officer for every complement of 10 based on Safe Manning Document.
- Training Fee: Rs. 10,000/- per month for ships >500 GRT, Rs. 3,000/- per month for ships ≤500 GRT, max. Rs. 2,00,000/- or Rs. 1,00,000/- respectively.
- Administrative Cost: 10% of total training fees, shared equally between company and trainee.
- Stipend: Minimum Rs. 5,000/- per month, payable by the company.
2. Payment and Deposit
Trainee officers pay training fees in advance for six months to MTT through tonnage tax companies. Companies must deposit the fee with MTT and keep acknowledgment.
II/4 Training fee payable to MTT in the name of trainee officer
Important Note
Companies must gear up to provide training w.e.f. 1 January 2005 if they haven't done so already.
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