Reciprocal tax exemption for airlines: mutual income tax relief applies from start of operations, conditioned on reciprocity. The exchange of notes establishes a mutual reciprocal exemption from income tax for enterprises operating aircraft in international traffic, to operate from commencement of each airline's operations in the other State, conditioned on reciprocity; the notes serve as a temporary agreement pending a general double taxation treaty, and any tax collected before entry into force is to be refunded by the collecting Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reciprocal tax exemption for airlines: mutual income tax relief applies from start of operations, conditioned on reciprocity.
The exchange of notes establishes a mutual reciprocal exemption from income tax for enterprises operating aircraft in international traffic, to operate from commencement of each airline's operations in the other State, conditioned on reciprocity; the notes serve as a temporary agreement pending a general double taxation treaty, and any tax collected before entry into force is to be refunded by the collecting Government.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
