Shipping income taxation allows source-state tax with half reduction; applies to carriage of passengers, mail and goods, excludes coastal traffic. Income from the operation of ships in international traffic sourced in the other Contracting State may be taxed in that State, but the tax so charged shall be reduced by fifty per cent. Qualifying income is income from carriage of passengers, mail, livestock or goods shipped in that other State. The reduced-tax treatment does not apply to profits arising from coastal traffic, which are excluded from this treaty relief.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Shipping income taxation allows source-state tax with half reduction; applies to carriage of passengers, mail and goods, excludes coastal traffic.
Income from the operation of ships in international traffic sourced in the other Contracting State may be taxed in that State, but the tax so charged shall be reduced by fifty per cent. Qualifying income is income from carriage of passengers, mail, livestock or goods shipped in that other State. The reduced-tax treatment does not apply to profits arising from coastal traffic, which are excluded from this treaty relief.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
