Common use of SHIPPING AND AIR TRANSPORT Clause in Contracts

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that State. 2. Income of an enterprise of one of the Contracting States derived from the other Contracting State from the operation of ships in international traffic may be taxed in that other State, but the tax chargeable in that other State on such income shall be reduced by an amount equal to fifty per cent of such tax. 3. The provisions of paragraphs 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise enterprise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that State. 2. Income of an enterprise of one of the a Contracting States State derived from the other Contracting State state from the operation of ships in international traffic may be taxed in that other Contracting State, but the tax chargeable in that other Contracting State on such income shall be reduced by an amount equal to fifty per cent 50% of such tax. 3. The provisions of paragraphs 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise enterprise of a Contracting State from the operation of ships or aircraft in international traffic shall be taxable only in that State. 2. Income Notwithstanding the provisions of an enterprise of one of the Contracting States paragraph 1 and Article 7, profits derived from the other Contracting State from the operation of ships or aircraft used principally to transport passengers or goods exclusively between places in international traffic a Contracting State may be taxed in that other State, but the tax chargeable in that other State on such income shall be reduced by an amount equal to fifty per cent of such tax. 3. The provisions of paragraphs 1 and 2 shall also apply to profits referred to in those paragraphs derived by an enterprise of a Contracting State from the its participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise enterprise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that State. 2. Income of an enterprise of one of the Contracting States derived from the other Contracting State from the operation of ships in international traffic may be taxed in that other State, but the tax chargeable in that other State on such income shall be reduced by an amount equal to fifty per cent of such tax. 3. The provisions of paragraphs 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits from sources within a Contracting State derived by an enterpise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that State. 2. Income of an enterprise of one of the Contracting States derived from the other Contracting State from the operation of ships in international traffic may be taxed in that other the first-mentioned State, but the tax chargeable in that other State on such income imposed shall be reduced by an amount equal to fifty 50 per cent thereof. 2. Profits from the operation of such taxaircraft in international traffic shall be taxable only in the Contracting State of which the enterprise operating the aircraft is a resident. 3. The provisions of paragraphs 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise enterprise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that Contracting State. 2. Income of derived by an enterprise of one of the Contracting States derived from the other a Contracting State from the operation of ships in international traffic may be taxed in that the other State, Contracting State but the tax chargeable imposed in that other State on such income shall be reduced by an amount equal to fifty 50 per cent of such taxthereof. 3. The provisions of paragraphs 1 and 2 shall also apply apply, to profits from the participation in a pool, a joint business or an international operating agency.. Where

SHIPPING AND AIR TRANSPORT. 1. Profits Income or profits derived by an enterpise enterprise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that State. 2. Income of or profits derived by an enterprise of one of the Contracting States derived from the other a Contracting State from the operation of ships in international traffic may be taxed in that the other Contracting State, but the tax chargeable imposed in that other State on such income shall be reduced by an amount equal to fifty per cent of such tax50 percent thereof. 3. The provisions of paragraphs 1 and 2 shall also apply to income or profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise of a Contracting State from the operation of aircraft aircrafts in international traffic shall be taxable only in that Statethe Contracting State in which the place of effective management of the enterprise is situated. 2. Income of Profits derived in a Contracting State by an enterprise of one of the Contracting States derived from the other Contracting State from the operation of ships in international traffic may be taxed in that other the first - mentioned State, but the tax chargeable in that other State on such income so charged shall be reduced by an amount equal to fifty 50 per cent of such taxthereof. 3. The provisions of preceding paragraphs 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits Income or profits derived by an enterpise enterprise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that Contracting State. 2. Income of or profits derived by an enterprise of one of the Contracting States derived from the other a Contracting State from the operation of ships in international traffic may be taxed in that the other Contracting State, but the tax chargeable imposed in that other State on such income shall be reduced by an amount equal to fifty 50 per cent of such taxthereof. 3. The provisions of paragraphs 1 and 2 shall also apply to income or profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits Income or profits derived by an enterpise enterprise of a Contracting State from the operation of aircraft in international traffic shall be taxable only in that Contracting State. 2. Income of or profits derived by an enterprise of one of the Contracting States derived from the other a Contracting State from the operation of ships in international traffic may be taxed in that the other Contracting State, but the tax chargeable imposed in that other State on such income shall be reduced by an amount equal to fifty per cent of such tax50 percent thereof. 3. The provisions of paragraphs 1 and 2 shall also apply to income or profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise of a Contracting State from the operation of ships or aircraft in international traffic shall be taxable only in that Statethe Contracting State of which the enterprise operating the ships or aircraft is a resident. 2. Income For the purposes of an enterprise of one of the Contracting States derived from the other Contracting State this Article, profits from the operation of ships and aircraft in international traffic may be taxed include profits from the rental on a bareboat basis of ships and aircraft when used in that other Stateinternational traffic, but where profits from such rental are incidental to the tax chargeable profits referred to in that other State on such income shall be reduced by an amount equal to fifty per cent of such taxparagraph 1. 3. The provisions provision of paragraphs paragraph 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.

SHIPPING AND AIR TRANSPORT. 1. Profits derived by an enterpise of a Contracting State from the operation of aircraft in international traffic by an enterprise of a Contracting State shall be taxable only in that StateContracting state. 2. Income of Profits derived by an enterprise of one of the Contracting States derived from the other a Contracting State from the operation of ships in international traffic traffic, or boats engaged in inland waterways transport, may be taxed in that the other Contracting State, but the tax chargeable imposed in that other State on such income shall be reduced by an amount equal to fifty 50 per cent of such taxthereof. 3. The provisions of paragraphs 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.