- 1
- Income and profits from the operation in international traffic of owned or chartered vessels of an enterprise of a Contracting Party shall be taxable only in that Party.
- 2
- The provisions of paragraph 1 of this Article shall also apply to income and profits obtained by chartering out vessels fully equipped, manned and supplied, irrespective of the nationality of the charterer.
- 3
- The provisions of paragraph 1 and 2 shall also apply to income and profits from the participation in a pool, a joint business or an international operating agency.
- 4
- Gains from the alienation of vessels of an enterprise of a Contracting Party operated in international traffic or of movable property pertaining to the operation of such vessels shall be taxable only in that Party.
- 5
- Capital represented by vessels of an enterprise of a Contracting Party operated in international traffic and by movable property pertaining to the operation of such vessels shall be taxable only in that Party.
