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of <h1>Income from International Shipping and Air Traffic Operations Exempt from Taxation; Includes Interest and Related Activities.</h1> Income from the operation of ships or aircraft in international traffic by an enterprise of one Contracting State is exempt from taxation in the other Contracting State. Interest directly connected with such operations is considered part of this income and is not subject to withholding tax. This income includes revenue from passenger and goods transportation, ticket sales, related activities, and leasing of ships or aircraft. It also covers income from containers used in international traffic if incidental to transportation activities. These provisions extend to income from participation in pools, joint businesses, or international operating agencies.
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