TTM06470 - Relevant shipping profits: Distributions from qualifying overseas shipping companies

Controlled foreign companies legislation

A tonnage tax company is not subject to any liability under the CFC legislation in respect of the profits of a CFC, if in that period any distributions received by the company from that CFC would have been relevant shipping income, (see TTM07100).

References

FA00/SCH22/PARA54 (1) (controlled foreign companies)	TTM17311