Article 3 - Avoidance of double taxation - Pakistan

ARTICLE 3 AVOIDANCE OF DOUBLE TAXATION 1. Profits derived by an enterprise of a Contracting State from the operation of aircraft in international traffic shall be exempt from tax in the other Contracting State. 2. The provisions of paragraph 1 shall also apply to the profits from the participation in a pool, a joint business or an international operating agency. 3. For the purposes of paragraph 1, interest on funds connected with the operation of aircraft in international traffic shall be regarded as profits derived from the operation of such aircraft.