Common use of AVOIDANCE OF DOUBLE TAXATION Clause in Contracts

AVOIDANCE OF DOUBLE TAXATION. Income or profits derived from the operation of aircraft in international traffic by an airline of one Contracting Party, including participation in a pool service, a joint air transport operation or an international operating agency, which are subject to tax in the area of that Contracting Party shall be exempt from income tax, profits tax and all other taxes on income or profits imposed in the area of the other Contracting Party.

AVOIDANCE OF DOUBLE TAXATION. Income or profits derived from the operation of aircraft in international traffic by an airline of one Contracting Party, including participation in a pool service, a joint air transport operation business or an international operating agency, which are subject to tax in the area of that Contracting Party shall be exempt from income tax, profits tax and all other taxes on income or profits imposed taxable only in the area of the other that Contracting Party.