Taxes & Duties

Tonnage Tax

Tonnage tax is an alternative to Corporation Tax to which certain shipping companies may elect to have their profits charged, subject to certain conditions.

Who is chargeable to Tonnage Tax?

Certain shipping companies may elect to have their profits charged to Tonnage Tax rather than Corporation Tax, subject to certain conditions.

Particulars required in the notification of election for Tonnage Tax

A qualifying company wishing to calculate profits under Tonnage Tax rules must make an election for Tonnage Tax under section 697D Taxes Consolidation Act 1997. The election is made by completing the pdfForm Tonnage Tax 1 (PDF, 133KB) - Application Form for entry/election into the Tonnage Tax scheme under section 697D Taxes Consolidation Act 1997, and submitting it to the Revenue Commissioners.

Information to be provided on Form Tonnage Tax 1 includes:

  • The type of election to be made i.e. single company or group of companies election.
  • In the case of a group election the name and address of the representative company and the name of the company secretary (a qualifying group of companies may nominate one company to act as the representative company to deal with tonnage tax matters on behalf of the whole group).
  • The accounting period from which the election is to take effect (if this is not the period in which the election is made the reason must be stated).

It should be noted that with effect from 2007 the Form CT1 Supplement - Tonnage Tax Profits, has been incorporated into the Return Form CT1

The completed Tonnage Tax 1 Form should be submitted to:

Business Income Tax Branch
Business Taxes Policy & Legislation Division,
Stamping Building,
Dublin Castle,
Dublin 2.
Telephone No: 01 - 647 5000

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Reference material

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