Remittance Clause. 1. Where this Agreement provides (with or without other conditions) that income from sources in a Contracting State shall be exempt from tax, or taxed at a reduced rate, in that State and under the laws in force in the other Contracting State the said income is subject to tax by reference to the amount thereof which is remitted to or received in that other State and not by reference to the full amount thereof, then the exemption or reduction of tax to be allowed under this Agreement in the first-mentioned State shall apply only to so much of the income as is remitted to or received in the other State. 2. However, this limitation does not apply to income derived, in the case of Singapore, by the Government of Singapore including its agencies and statutory bodies, and, in the case of the Federal Republic of Germany, by the Federal Republic of Germany, a Land, a political subdivision or a local authority thereof. This limitation also does not apply to income derived by any person of a Contracting State approved by the competent authority of that State.
Appears in 4 contracts
Samples: Double Taxation Agreement, Double Taxation Agreement, Double Taxation Agreement
