TaxTMI 
TaxTMI 
Agreement for Avoidance of Double Taxation of Income Derived From International Air Transport - Republic of Maldives
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....aid Agreement, the said Agreement entered into force on the 1st day of August, 2016, being the first day of the second month following the month in which later of the notifications of the completion of the procedures as required by the respective laws for entry into force of the said Agreement is given; And whereas, clause (i) of paragraph 3 of Article 6 of the said Agreement provides that the provisions of the said Agreement shall have effect in India in respect of income derived in any fiscal year beginning on or after the first day of April following the calendar year in which the Agreement enters into force; Now, therefore, in exercise of the powers conferred by sub-section (1) of section 90 of the Income-tax Act, 1961 (43 of 1961), t....
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....nless the context otherwise requires: a) the term "India" means the territory of India and includes the territorial sea and airspace above it, as well as any other maritime zone in which India has sovereign rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the U.N. Convention on the Law of the Sea; b) the term "Maldives" means the territory of the Maldives and includes its territorial sea, continental shelf, sea-bed, sub-soil (and their natural resources) and airspace, as well as any maritime zone in which the Maldives has sovereign rights, other rights and jurisdiction, according to the law of the Maldives and in accordance with international law, including ....
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....herein shall, unless the context otherwise requires, have the meaning which it has under the laws in force in that State relating to taxes which are the subject of this Agreement. Article 3 AVOIDANCE OF DOUBLE TAXATION 1. Income derived by an enterprise of a Contracting State from the operation of aircraft in international traffic shall be exempted from tax in the other Contracting State. 2. The provisions of paragraph (1) shall also apply to income from the participation in a pool, a joint airline business or an international operating agency. 3. For the purpose of paragraphs 1 and 2, interest on funds directly connected with the operation of aircraft in international air traffic shall be regarded as income derived from the operation ....
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....beginning on or after the first day of April following the calendar year in which the Agreement enters into force; and (ii) in Maldives, in respect of income derived in any fiscal year beginning on or after the first day of January following the calendar year in which the Agreement enters into force. Article 7 TERMINATION This Agreement shall remain in force indefinitely until terminated by a Contracting State. Either Contracting State may terminate the Agreement, by giving notice of termination through diplomatic channels, at least six months before the end of any calendar year beginning after the expiration of five years from the date of entry into force of the Agreement. In such event, the Agreement shall cease to have effect: a) ....