TTM12350 - Tonnage tax groups: Merger
Meaning of ‘dominant party’
The ‘dominant party’ to a merger is the party with more than twice the turnover, generated by relevant activities, than the other party. If neither party qualifies as the dominant party, there is no dominant party (FA00/SCH22/PARA126(2)).
For the meaning of ‘relevant activities’, which can have different meanings in different circumstances, see TTM12360.
References
| FA00/SCH22/PARA122 (merger between TT groups/companies) | TTM17686 |
| FA00/SCH22/PARA123 (merger between T and QNT) | TTM17686 |
| FA00/SCH22/PARA125 (merger between NQ and QNT) | TTM17701 |
| FA00/SCH22/PARA126 (meaning of ‘dominant party’) | TTM17706 |
| Merger between tonnage tax groups or companies | TTM12310 |
| Merger between T and QNT | TTM12320 |
| Merger between NQ and QNT | TTM12340 |