In San Marino Sample Clauses

In San Marino a) Where a resident of San Marino derives income which, in accordance with the provisions of this Convention, may be taxed in Azerbaijan, San Marino shall, subject to the provisions of paragraphs b) and c), exempt such income from tax but may, nevertheless, in calculating the amount of tax on the remaining income of such resident, apply the same tax rate which would apply if the income in question were not exempt. b) Where a resident of San Marino derives income which, in accordance with the provisions of Articles 10, 11 and 12, may be taxed in Azerbaijan, San Marino shall allow as a deduction from the tax on the income of that resident, an amount equal to the tax paid in Azerbaijan. Such deduction shall not, however, exceed that part of the income tax, as computed before the deduction is given, which is attributable to the income arising in Azerbaijan.

In San Marino a) Where a resident of San Marino derives income which, in accordance with the provisions of this Convention, may be taxed in Saint Kitts and Nevis, San Marino shall, subject to the provisions of paragraphs b) and c), exempt such income from tax but may, nevertheless, in calculating the amount of tax on the remaining income of such resident, apply the same tax rate which would apply if the income in question were not exempt. b) Where a resident of San Marino derives income which, in accordance with the provisions of Articles 10, may be taxed in Saint Kitts and Nevis, San Marino shall allow as a deduction from the tax on the income of that resident, an amount equal to the tax paid in Saint Kitts and Nevis. Such deduction shall not, however, exceed that part of the income tax, as computed before the deduction is given, which is attributable to the income arising in Saint Kitts and Nevis. c) Notwithstanding the provisions of paragraph b), where a company which is a resident of San Marino has held at least 25 percent of the capital of a company which is a resident of Saint Kitts and Nevis paying dividends, interest or royalties for an uninterrupted period of at least 12 months prior to the decision to distribute the dividends, or prior to the payment of interest or royalties, San Marino shall exempt from tax the dividends, interest and royalties paid by the company which is a resident of Saint Kitts and Nevis by the company which is a resident of San Marino.

In San Marino a) Where a resident of San Marino derives income or owns capital which, in accordance with the provisions of this Convention, may be taxed in Romania, San Marino shall allow: i) as a deduction from the tax on the income of that resident, an amount equal to the income tax paid in Romania; ii) as a deduction from the tax on the capital of that resident, an amount equal to the capital tax paid in Romania. Such deduction in either case shall not, however, exceed that part of the income tax or capital tax, as computed before the deduction is given, which is attributable, as the case may be, to the income or the capital which may be taxed in Romania. b) Where in accordance with any provision of the Convention income derived or capital owned by a resident of San Marino is exempt from tax in San Marino, San Marino may nevertheless, in calculating the amount of tax on the remaining income or capital of such resident, take into account the exempted income or capital.