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Calculation of Net Tonnage factor
Applicable to:
Shipping companies opting for Tonnage Tax
Effective Date:
1 January 2005
Superseded Circulars:
None
Key Changes and Requirements
1. Training Commitments
Each qualifying ship must provide training to one trainee officer for every 10 crew members based on the Safe Manning Document.
- Training Fee: Rs. 10,000/- per month for ships with GRT > 500, Rs. 3,000/- per month for ships with GRT ≤ 500, subject to maximum limits.
- Administrative Cost: 10% of total training fees, shared equally between the company and trainee officer.
- Stipend: Minimum Rs. 5,000/- per month for trainee officers, payable by the company.
2. Payment and Deposit
Training fees and administrative costs must be paid in advance for six months by the trainee officer to the Maritime Training Trust (MTT).
Companies must collect these fees and deposit them into the MTT corpus.
MTT - Maritime Training Trust
Important Note
Companies must gear up to provide training and collect fees from trainee officers starting 1 January 2005.
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