https://www.taxtmi.com/acts?id=20117 Income from aircraft operations in international traffic is taxable only in the enterprise's Contracting State, while income from ship operations in international traffic may be taxed in the other Contracting State with the tax so imposed reduced by an amount equal to 50 per cent. "Operation of ships or aircraft" encompasses transportation of persons, mail, livestock or goods and includes incidental leasing, container use/maintenance/rental, and other activities directly connected with such transportation. Interest directly connected with these operations is treated as operational income, and the rules apply to pools, joint businesses and international operating agencies. en-us Fri, 04 Dec 2015 14:15:20 +0530 Mon, 02 Dec 2024 11:07:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20117 Income from aircraft operations in international traffic is taxable only in the enterprise's Contracting State, while income from ship operations in international traffic may be taxed in the other Contracting State with the tax so imposed reduced by an amount equal to 50 per cent. "Operation of ships or aircraft" encompasses transportation of persons, mail, livestock or goods and includes incidental leasing, container use/maintenance/rental, and other activities directly connected with such transportation. Interest directly connected with these operations is treated as operational income, and the rules apply to pools, joint businesses and international operating agencies. Act-Rules DTAA Fri, 04 Dec 2015 14:15:20 +0530 https://www.taxtmi.com/acts?id=20117