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of <h1>International Aircraft Profits Taxed Only in Home State; Shipping Profits Face 50% Tax Reduction Abroad.</h1> Profits from the operation of aircraft in international traffic by an enterprise of one Contracting State are taxable only in that State. For ships, profits derived in one Contracting State by an enterprise of the other may be taxed in the first State, with a 50% tax reduction. If a shipping enterprise's management is aboard a ship, its location is deemed to be the ship's home harbor or the operator's residence. Profits from container use related to international operations are taxed under the same rules as aircraft or ships. Interest on investments integral to such operations is treated as operational profits, and profits from international business collaborations are similarly taxed.
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