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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Tax on International Shipping Profits Tied to Management Location; 5% Limit on Casual State Operations.</h1> Profits from international shipping operations are taxable only in the state where the enterprise's effective management is located. However, if operations in another state are more than casual, profits from that state may also be taxed there, limited to 5% of the carriage receipts and at half the usual tax rate. If management is aboard a ship, it is deemed to be in the ship's home harbor state or the operator's residence state. Shipping profits include interest on related funds and profits from containers and ship rentals, provided these are incidental. This applies to profits from pools or joint ventures.
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