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of <h1>International Transport Profits Taxed Only in Resident State; Includes Joint Ventures and Air Transport Consortia Profits.</h1> Profits from operating ships or aircraft in international traffic are taxable only in the enterprise's resident state. This rule extends to profits from participation in pools, joint businesses, or international agencies. For air transport consortia involving companies from different countries, profits are taxed according to each company's share. Profits include those from transporting passengers, mail, livestock, or goods, ticket sales for other enterprises, incidental leasing, and container use. Interest from ship or aircraft operations is also considered operational profit, excluding interest from investments.
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