TTM02100 - Tonnage tax elections: How to elect?

Company or group election

A tonnage tax election may be made by

  • a qualifying single company (a ‘company election’), or

  • a qualifying group (a ‘group election’).

Group election

A group election must be made jointly by all the qualifying companies in the group. (See TTM12010 on the extended definition of ‘group’ for tonnage tax purposes.)

Once made a group election applies to all the qualifying companies in a group.