TMI BlogAgreement for Avoidance of Double Taxation of Income Derived From International Air Transport - Republic of MaldivesX X X X Extracts X X X X X X X X Extracts X X X X ..... ccordance with paragraph 2 of Article 6 of the said Agreement, the said Agreement entered into force on the 1st day of August, 2016, being the first day of the second month following the month in which later of the notifications of the completion of the procedures as required by the respective laws for entry into force of the said Agreement is given; And whereas, clause (i) of paragraph 3 of Article 6 of the said Agreement provides that the provisions of the said Agreement shall have effect in India in respect of income derived in any fiscal year beginning on or after the first day of April following the calendar year in which the Agreement enters into force; Now, therefore, in exercise of the powers conferred by sub-section (1) of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anges which are made in their respective taxation laws. Article 2 DEFINITIONS 1. In this Agreement, unless the context otherwise requires: a) the term India means the territory of India and includes the territorial sea and airspace above it, as well as any other maritime zone in which India has sovereign rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the U.N. Convention on the Law of the Sea; b) the term Maldives means the territory of the Maldives and includes its territorial sea, continental shelf, sea-bed, sub-soil (and their natural resources) and airspace, as well as any maritime zone in which the Maldives has sovereign rights, other rights a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he provisions of this Agreement by one of the Contracting States, any term used but not defined herein shall, unless the context otherwise requires, have the meaning which it has under the laws in force in that State relating to taxes which are the subject of this Agreement. Article 3 AVOIDANCE OF DOUBLE TAXATION 1. Income derived by an enterprise of a Contracting State from the operation of aircraft in international 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 directly connected with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 of this Article is given. 3. The provisions of this Agreement shall have effect: (i) in India, in respect of income derived in any fiscal year beginning on or after the first day of April following the calendar year in which the Agreement enters into force; and (ii) in Maldives, in respect of income derived in any fiscal year beginning on or after the first day of January following the calendar year in which the Agreement enters into force. Article 7 TERMINATION This Agreement shall remain in force indefinitely until terminated by a Contracting State. Either Contracting State may terminate the Agreement, by giving notice of termination through diplomatic channels, at least six months before the end of any calendar ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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