Calculation of Net Tonnage factor for financial year 2014-15 (AY 2015-16) to be used by Tonnage Tax Companies having Space/Slot arrangement.

Applicable to: Tonnage Tax Companies having Space/Slot arrangement

Effective Date: Financial Year 2014-15 (AY 2015-16)

Superseded Circulars: None mentioned

Key Changes and Requirements

The Net Tonnage Factor for the financial year 2014-15 (AY 2015-16) has been calculated as 8696.

Calculation Method: Aggregate Net Tonnage of all qualifying ships registered under the Merchant Shipping Act, 1958 at the end of the preceding financial year divided by the total number of such ships at the end of the preceding financial year.
Usage: To be used in conjunction with net tonnage of slot/space charters calculated under the CBDT notification dated 29.03.05 issued in the official gazette to work out the minimum training requirement for such arrangements for the FY 2014-15.

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