https://www.taxtmi.com/notifications?id=22370 A reciprocal exemption exempts residents and qualifying corporations of each Contracting State from tax on gross income from the international operation of ships and aircraft in the other State, subject to a corporate ownership test (over 50% resident ownership or equivalent reciprocal treatment) or a market trading test, with gross income defined to include rentals, bareboat charters, container rentals, pool participation income, interest linked to operations, and gains on disposition; the agreement amends the 1976 treaty and is effective for taxable years beginning on or after January 1, 1987. en-us Thu, 15 Jun 1989 00:00:00 +0530 Thu, 26 Nov 2009 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=22370 A reciprocal exemption exempts residents and qualifying corporations of each Contracting State from tax on gross income from the international operation of ships and aircraft in the other State, subject to a corporate ownership test (over 50% resident ownership or equivalent reciprocal treatment) or a market trading test, with gross income defined to include rentals, bareboat charters, container rentals, pool participation income, interest linked to operations, and gains on disposition; the agreement amends the 1976 treaty and is effective for taxable years beginning on or after January 1, 1987. Notifications Income Tax Thu, 15 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/notifications?id=22370