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of <h1>International Ship & Aircraft Profits Taxed Only in Resident State; Includes Containers & Joint Operations. Section 1.</h1> Profits earned by an enterprise from operating ships or aircraft in international traffic are taxable only in the enterprise's resident state. This also applies to profits from using, maintaining, or renting containers for international transport, unless used solely within the other contracting state. Interest related to these operations is considered part of the profits and is exempt from other interest taxation rules. Additionally, profits from participation in pools, joint businesses, or international operating agencies are subject to the same tax treatment as outlined in the first paragraph.
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