AUSTRALIAN TAX TREATIES

Italian Convention  

Italian Airline Profits Agreement  

ARTICLE 1  

(1)  
The existing taxes to which the Agreement applies are -


(a) in Australia:
the Commonwealth income tax, including the additional tax upon the undistributed amount of the distributable income of a private company, (hereinafter referred to as " Australian tax " );


(b) in Italy:


(i) the tax on income from movable wealth ( imposta sui redditi di ricchezza mobile );

(ii) the complementary tax ( imposta complementare progressiva sul reddito );

(iii) the tax on companies insofar as the tax is charged on income and not on capital ( imposta sulle societa ' , per la parte che grava sul reddito e non sul patrimonio ); and

(iv) the taxes on income imposed on behalf of provinces, municipalities and Chambers of commerce ( imposte provinciali, comunali e camerali sul reddito ), (hereinafter referred to as " Italian tax " ).

(2)  
This Agreement shall also apply to any identical or substantially similar taxes which are imposed after the date of signature of this Agreement in addition to, or in place of, the existing taxes.




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