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of <h1>Taxation of International Traffic Profits: Only Taxable in Enterprise's State; Includes Rentals, Interest, and Joint Ventures.</h1> Profits from the operation of ships or aircraft in international traffic by an enterprise of a Contracting State are taxable only in that State. If a shipping enterprise is managed aboard a ship, its effective management is considered to be in the State of the ship's home harbor or the operator's residence. Profits include those from bareboat rentals and container-related activities incidental to international traffic operations. Interest on funds related to these operations is also considered profits. These provisions extend to profits from participation in pools or joint businesses and replace an earlier agreement between India and Kuwait on international air transport taxation.
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