https://www.taxtmi.com/acts?id=5571 Profits from operation of ships in international traffic are taxable primarily only in the enterprise's State, but may also be taxed in the other Contracting State where shipping activities are carried on, subject to a cap. The rule applies to participation in pools, joint businesses and international operating agencies. The gross amount payable in the Contracting State comprises receipts for carriage at its ports, interest on funds connected with ship operations arising in that State, and amounts for use, maintenance or rental of containers and related equipment. Interest so specified is not governed by Article 12. No deduction is allowed for prior loss or depreciation allowances when that State determines taxable income. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 05 Mar 2009 17:37:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=5571 Profits from operation of ships in international traffic are taxable primarily only in the enterprise's State, but may also be taxed in the other Contracting State where shipping activities are carried on, subject to a cap. The rule applies to participation in pools, joint businesses and international operating agencies. The gross amount payable in the Contracting State comprises receipts for carriage at its ports, interest on funds connected with ship operations arising in that State, and amounts for use, maintenance or rental of containers and related equipment. Interest so specified is not governed by Article 12. No deduction is allowed for prior loss or depreciation allowances when that State determines taxable income. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=5571