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Tonnage Tax Cell Circular No.02 of 2020- Calculation of Net Tonnage Factor of Financial Year 2019-20 (AY 2020-21) to be used by Tonnage Tax Companies having Space/Slot arrangements.
Applicable to:
Tonnage Tax Companies having Space/Slot arrangements
Effective Date:
Financial Year 2019-20 (AY 2020-21)
Superseded Circulars:
None mentioned
Key Changes and Requirements
1. Net Tonnage Factor Calculation
The Net Tonnage Factor for Financial Year 2019-20 (AY 2020-21) is 9459.
- Calculation: Aggregate Net Tonnage of qualifying ships divided by the total number of such ships at the end of the preceding financial year.
2. Mandays Calculation for Space/Slot Charters
Mandays are calculated by dividing the Net Tonnage of slot/space charters by the Net Tonnage Factor, then multiplying by the number of operating days.
- Formula: (Net Tonnage of slot/space charters / Net Tonnage Factor) * Number of operating days
II/4 Minimum training requirement for space/slot arrangements in FY 2019-20
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