§ 514.107 - Income from operation of ships or aircraft.

Related Notices
- 97-25998. Final and temporary regulations. 97-25998. General Revision of Regulations Relating to Withholding of Tax on Certain U.S. Source Income Paid to Foreign Persons and Related Collection, Refunds, and Credits; Revision of Information Reporting and Backup Withholding Regulations; and Removal of Regulations Under Part 35a and of Certain Regulations Under Income Tax Treaties

Latest version.

The income derived by a French enterprise from the operation of ships documented under the laws of France, or of aircraft registered in France, is under Article 6 of the convention exempt from United States income tax. However, the profits derived by such enterprise from the operation of ships or aircraft, if any, not so documented or registered are treated as are industrial and commercial profits generally. See Article 3 of the convention and § 514.105.

                    
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