TTM06060 - Relevant shipping profits: Core qualifying activities

Examples

The following will be ‘core qualifying activities’ if carried on by a tonnage tax company in respect of ships that it operates:

sale of tickets to passengers or booking of cargo,
management of the company’s own ships, for example, route planning and fuel purchases,
arrangement of time or voyage charters,
the transport element of profits from cable laying and diving support services,
provision of food and drink for cruise passengers,
maintenance of cargo, for example, provision of refrigerated storage facilities,
day to day maintenance of ships,
fulfilment of legal and insurance requirements in respect of the ship,
staff administration of ship’s crew,
activities involved in the acquisition or disposal of ships, and
purchasing, trading and surrendering allowances under greenhouse gas emissions pricing mechanisms, for example EUAs (allowances under the EU Emissions Trading Scheme), provided the activities constitute an integral and necessary part of the business of operating ships as distinct from speculative exploitation of the instruments.

This list is not exhaustive.

Core qualifying activities