DT8004 - DT: Germany, Federal Republic: double taxation agreement, Article 5: Shipping and air transport

(1) Profits from the operation of ships or aircraft in international traffic shall be subjected to tax only in the territory in which the place of effective management of the enterprise is situated.

(2) Paragraph (1) of this Article shall likewise apply in respect of the Gewerbesteuer (trade tax) computed on a basis other than profits.