[Code of Federal Regulations]
[Title 26, Volume 18, Parts 500 to 599]
[Revised as of April 1, 2000]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR521.107]

[Page 149]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER 1--INTERNAL REVENUE SERVICE DEPARTMENT OF THE TREASURY 
                               (Continued)
 
PART 521--DENMARK--Table of Contents
 
                       Subpart--General Income Tax
 
Sec. 521.107  Income from operation of ships or aircraft.

    The income derived from the operation of ships or aircraft 
registered in Denmark by a nonresident alien who is a resident of 
Denmark, or by a Danish corporation, and carrying on an enterprise in 
Denmark, is, for taxable years beginning on or after January 1, 1948, 
exempt from United States income tax under the provisions of Article V 
of the convention.