New statement from the Ministry of Finance regarding intervention, IMR and crane vessels
The Ministry has on 7 October 2010 stated that intervention, IMR and crane vessels should be considered as qualifying vessels under the Norwegian Tonnage Tax ("TT") scheme. To the extent the vessels are engaged in complex and independent functions related to exploitation of petroleum, the vessels should with effect from the income year 2011 be considered as entrepreneurial vessels. This implies that TT companies performing such activities on the Norwegian continental shelf, have to charter out intervention, IMR and crane vessels on bareboat charter terms to an ordinary taxed company with customer contract.
