2640 DOUBLE INCOME TAX-SHIPPING PROFITS-GERMA:XY. [Translation) FEDERAL MINISTER OF FINANCE. III Dk 11366. BERLIN, lJecember 9, 19t1,.. Subject: Exemption of North American navigation companies and shipowners from the income and corporation taxes. I. By official order of August 10, 1923 (III C 7412) I have ordered, on the condition of complete reciprocity and subject to revocation at any time on the basis of section 108, paragraph 1, of the Federal Tax Law, that in the ease of companies operated for profits, the domicile and location of the management of which is m the United States of America, income derived exclusively from the operation of ships shall Dot be subject to 0. corporation tax. Moreover, I declare myself as agreeing that the official order shall apply to all companies which have only their domicile in the United States, regardless of the location of the place of management. There- fore, in case a corporation tax should have been imposed on a company in your district which has its domicile in the Umted States, but the place of management of which is not in the United States, such com- pany shall also hereafter be exempted from the corporation tax, as well as its income derived exclusively from the operation of ships. II. In explanation, I further point out that, on condition of complete reciprocity, the official order of August 10, 1923 (III C 7412) with the amplification resulting from the preceding paragraph, as well as the official order of January 5, 1924 (III C 14722) shall be applied, effective as of January 1, 1921. I respectfully request that due notice hereof be given to the finance offices charged with the duty of making assessments. By direction POPITZ. To the Presidents of the State Finance Offices in Konigsberg, :Meck- lenburg-LUbeck in Schwerin, Oldenburg, Schleswig-Holstein in Kiel, Stettin, Unterelbe in Hamburg, Unterweser in Bremen. [No. 17]
