Taxation of international shipping and air transport profits limited to the enterprise's State of residence, with specified exceptions. Profits from operating ships or aircraft in international traffic by a resident enterprise are taxable only in the State of residence; this includes ... Summary
Taxation of international shipping and air transport profits limited to the enterprise's State of residence, with specified exceptions.
Profits from operating ships or aircraft in international traffic by a resident enterprise are taxable only in the State of residence; this includes participation in pools, joint businesses, and international operating agencies. Income from use, maintenance, or rental of containers used in international transport is taxable only in the resident State unless containers are used solely within the other State. Interest connected with such operations is treated as operational profits, excluding interest on fixed bank deposits.
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