Article 3 - Avoidance of double taxation - People's Democratic Republic of Yemen [South Yemen]

Article 3 AVOIDANCE OF DOUBLE TAXATION 1. Income derived by an enterprise of a Contracting State from the operation of aircraft in international air traffic shall be exempted from tax in the other Contracting State. 2. The provisions of paragraph 1 shall also apply to income from the participation in a pool, a joint airline business or an international operating agency. 3. For the purpose of paragraphs 1 and 2, interest on funds connected with the operation of aircraft in international air traffic shall be regarded as income derived from the operation of such aircraft.