Taxation rights clarified: resident state entitlement and treaty limits on permanent establishment, penalties exclusion, thin capitalisation, capital gains.

Treaty clarifications allocate taxing powers: income is taxed when it arises; penalties and default charges are excluded from the term tax; a warehouse furnishing storage for others constitutes a permanent establishment; the resident State may tax income from property and capital gains; domestic law referenced must not be less favourable than at signature. The Protocol preserves States' measures on thin capitalisation, allows each State to set burden-of-proof rules for deductibility, limits rate differentials on taxing permanent-establishment profits, and confines "economic development" to industrial or infrastructural development.

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