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 |