SCHEDULES
SCHEDULE 22 Tonnage tax
Part XII Groups, mergers and related matters
Demerger: group
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1
This paragraph applies where a tonnage tax group splits into two or more groups.
2
In that case each new group that contains a qualifying company that was a tonnage tax company before the demerger is a tonnage tax group as if a group election had been made.
3
That deemed election continues in force, subject to the provisions of this Schedule, until the group election would have expired.