https://www.taxtmi.com/acts?id=4736 Profits from ship operations may be taxed in both source and residence States, but the source-State tax is reduced by half and the reduced tax is creditable against the residence-State tax, subject to the credit not exceeding residence-State tax on that income; profits from coastal traffic are excluded and if the source State does not tax foreign enterprises' shipping income, the profits may be taxed only in the residence State. Domestic assessment rules for occasional shipping remain applicable, with the treaty provision applying for specified adjustments. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 20 Nov 2024 15:41:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4736 Profits from ship operations may be taxed in both source and residence States, but the source-State tax is reduced by half and the reduced tax is creditable against the residence-State tax, subject to the credit not exceeding residence-State tax on that income; profits from coastal traffic are excluded and if the source State does not tax foreign enterprises' shipping income, the profits may be taxed only in the residence State. Domestic assessment rules for occasional shipping remain applicable, with the treaty provision applying for specified adjustments. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4736