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Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.


International Traffic

(1) Profits derived by an enterprise of a Contracting State from the operation of ships, aircraft or road or railway vehicles in international traffic shall be taxable only in that Contracting State.

(2) The provisions of paragraph 1 shall also apply to profits from the participation in a pool, a joint business or an international operating agency but only to so much of the profits so derived as is attributable to the participant in proportion to its share in the joint operation.