Common use of Ships and Aircraft Clause in Contracts

Ships and Aircraft. (1) Profits from the operation of ships or aircraft derived by a resident of one of the Contracting States shall be taxable only in that State. (2) Notwithstanding the provisions of paragraph (1), profits of the kind referred to in that paragraph from operations of ships or aircraft confined solely to places in the other Contracting State may be taxed in that other State. (3) The provisions of paragraphs (1) and (2) shall apply in relation to the share of the profits from the operation of ships or aircraft derived by a resident of one of the Contracting States through participation in a pool service, in a joint transport operating organization or in an international operating agency. (4) For the purposes of this Article, profits derived from the carriage by ships or aircraft of passengers, livestock, mail, goods or merchandise shipped in a Contracting State for discharge at another place in that State shall be treated as profits from operations of ships or aircraft confined solely to places in that State.

Ships and Aircraft. (1) Profits from the operation of ships or aircraft derived by a resident of one of the Contracting States shall be taxable only in that State. (2) Notwithstanding the provisions of paragraph (1), such profits of may be taxed in the kind referred to in that paragraph other Contracting State where they are profits from operations of ships or aircraft confined solely to places in the other Contracting State may be taxed in that other State. (3) The provisions of paragraphs (1) and (2) shall apply in relation to the share of the profits from the operation of ships or aircraft derived by a resident of one of the Contracting States through participation in a pool service, in a joint transport operating organization or in an international operating agency. (4) For the purposes of this Article, profits derived from the carriage by ships or aircraft of passengers, livestock, mail, goods or merchandise shipped in a one of the Contracting State States for discharge at another place in that State shall be treated as profits from operations of ships or aircraft confined solely to places in that State. (5) Income derived by an enterprise of one of the Contracting States from the alienation of ships or aircraft operated in international traffic while owned by that enterprise or of personal property pertaining to the operation of those ships or aircraft shall be taxable only in that State.

Ships and Aircraft. (1) Profits from the operation of ships or aircraft derived by a resident of one of the Contracting States shall be taxable only in that State. (2) . Notwithstanding the provisions of paragraph (1), such profits of may be taxed in the kind referred to in that paragraph other Contracting State where they are profits from operations of ships or aircraft confined solely to places in the other Contracting State may be taxed in that other State. (3) . The provisions of paragraphs (1) 1 and (2) 2 shall apply in relation to the share of the profits from the operation of ships or aircraft derived by a resident of one of the a Contracting States State through participation in a pool service, in a joint transport operating organization organisation or in an international operating agency. (4) . For the purposes of this Article, profits derived from the carriage by ships or aircraft of passengers, livestock, mail, goods or merchandise shipped in a one of the Contracting State States for discharge at another place in that State shall be treated as profits from operations of ships or aircraft confined solely to places in that State.

Ships and Aircraft. (1) . Profits from the operation of ships or aircraft in international traffic derived by a resident of one of the Contracting States shall be taxable only in that State. (2) . Notwithstanding the provisions of paragraph (1), such profits of may be taxed in the kind referred to in that paragraph other Contracting State where they are profits from operations of ships or aircraft confined solely to places in the other Contracting State may be taxed in that other State. (3) . The provisions of paragraphs (1) 1 and (2) 2 shall apply in relation to the share of the profits from the operation of ships or aircraft derived by a resident of one of the Contracting States through participation in a pool service, in a joint transport operating organization organisation or in an international operating agency. (4) . For the purposes of this Article, profits derived from the carriage by ships or aircraft of passengers, livestock, mail, goods or merchandise shipped in a Contracting State for discharge at another place in that State shall be treated as profits from operations of ships or aircraft confined solely to places in that State.