Article 9 - Shipping transport - Korea (Old - Effective upto 31-3-2017)

Article 9 : Shipping Transport 1. Profits derived by an enterprise of a ContractingState from the operation of ships in international traffic shall be taxable only in that State. 2. Notwithstanding the provisions of paragraph 1 of this Article, profits derived from the operation of ships in international traffic may be taxed in the ContractingState in which such operation is carried on; but the tax so charged shall not exceed 50 per cent of the tax otherwise imposed by the internal law of that State. 3. The provisions of paragraphs 1 and 2 of this Article shall also apply to profits derived from the participation in a pool, a joint business or an international operating agency.