- 1
- An enterprise of a Contracting Party operating ships or aircraft in international traffic shall be exempted in the other Contracting Party from taxes of every kind and description on income derived therefrom, irrespective of the manner in which they are levied.
- 2
- An enterprise of a Contracting Party operating ships or aircraft in international traffic shall be exempted in the other Contracting Party from taxes of every kind and description on gains derived from the alienation of ships or aircraft or movable property pertaining to the operation of such ships or aircraft, irrespective of the manner in which they are levied.
- 3
- The provisions of paragraphs 1 and 2 shall also apply to income, profits and gains derived by an enterprise of a Contracting Party from the participation in a pool, a joint business or an international operating agency.
- 4
- Notwithstanding the preceding provisions of this Article, remuneration derived in respect of an employment exercised aboard a ship or aircraft operated in international traffic, may be taxed in that Party in which the place of effective management of the enterprise is situated.
