DOUBLE INCOME TAX-SHIPPING PROFITS-FRANCE. Cette exonoration qui, par mesure de reciprocite prendra effet du l er janvier 1921, concerne, notamment, I'impot sur les benefices in- dustriels et commerciaux institu~ par Ie titre l er de 10. loi du 31 juillet 1917 et I'impot sur Ie revenu prevu par 10. loi du 29 juin 1872 et Ie decret du 6 decembre 1872 A 10. charge des societe etrangeres, dont les titres ne sont pas cotes, mais qui ont pour objet des biens meubles ou immeubJes situes en France. ART. 2 .- Le present decret sera soumis a 10. ratification des Cham- breSt conformement aux dispositions de l'article 5 de la Ioi du 29 avri 1926. Article 3. --Le president du conseiJ, ministre des finances, est char~e de l'executlon du present decret, qui sera publie au Journal OjJjc'/,el et insere au Bulletin des lois. Fait a Paris, Ie 20 mai 1927. (Signe) GASTON DOUMERGUE Par Ie President de la R~publique: Le president du conseil, ministre des finances, RAYMOND POINCARE Pour copie certifiee confonne au texte paru au Journal Officiel de Ia Republique fran~aise des Iundi 23 et mardi 24 mai 1927. Le Charge d'Affaires de France; (SEAL] SARTIGES. The Charge d'Affaires ad interim oj France (Sartiges) 10 '/I.e Secretary oj StaJe (KeUogg) (Translation] EMBASSY OF THE FRENCH REPUBLIC TO THE UNITED STATES. ~R. SECRETARY OF STATE: WASHINGTON, D. C ., June 11,1917. Referring to the note your Excellency was pleased to send to Mr. Claudel on April 26 last, I have the honor to infonn you that the French Government on May 20 issued a decree exempting from any tax on profits the citizens of the United States and American juridical persons operating navigation concerns in France. The decree of which your Excellency win find a copy herewith reproduces the wording quoted in my letter of January 19, which has been acknowledged by the United States Department of the Treasur~ as meeting the conditions required by Section 213 (b) (8) of the Revenue A~t of 1921, 1924, and 1926 for the granting of an equivalent exemption in the United States. I may add that it goe8 into immediaJe effect in France. Under these conditions I should be glad if your Excellency would kindly ~ve me the assurance that the French citizens and French compames will hereafter be exempt from the tax on profits derived from navigation business. Be plea.,ed to accept, Mr. Secretary of State, the assurances of my very high consideration. HIS EXCELLENCY, THE HONORABLE FRANK B. KELLOGG, Secretary oj State oj the United States, Washington, D. O. SARTIGES. 2605
