Fortune Sample Clauses
The 'Fortune' clause is designed to address the impact of unforeseen or uncontrollable events on the parties' obligations under a contract. Typically, this clause outlines how certain events—such as natural disasters, war, or other acts beyond the control of the parties—may excuse or delay performance without penalty. For example, if a supplier cannot deliver goods due to a government-imposed embargo, the Fortune clause may relieve them from liability for non-performance. Its core function is to allocate risk and provide a fair mechanism for handling situations where fulfilling contractual duties becomes impossible or impractical due to extraordinary circumstances.
Fortune. 1. Fortune represented by immovable property, as defined in article paragraph 2, may be taxed in the Contracting State in which such property situated.
2. Fortune represented by movable property forming part of the business property of a permanent establishment of an enterprise, or by movable property pertaining to a fixed base used for the performance of professional services, may be taxed in the Contracting State in which the permanent establishment or fixed base is situated.
3. Ships and aircraft operated in international traffic, and business property, other than immovable property, pertaining to the operation of such ships and aircraft, shall be taxable only in the Contracting State in which the place of effective management of the enterprise is situated.
4. All other elements of fortune of a resident of a Contracting State shall be taxable only in that State. Chapter V Provisions for the Avoidance of Double Taxation
Fortune. 1. Capital represented by immovable property referred to in Article 6, owned by a resident of a Contracting State and situated in the other Contracting State may be taxed in that other State.
Fortune. 1. La fortune constituée par des biens immobiliers visés à l’article 6, que possède un résident d’un État contractant et qui sont situés dans l’autre État contractant, est imposable dans cet autre État.
2. La fortune constituée par des biens mobiliers qui font partie de l’actif d’un établissement stable qu’une entreprise d’un État contractant possède dans l’autre État contractant est imposable dans cet autre État.
3. Le capital constitué par des navires et des aéronefs exploités en trafic international ainsi que par des biens meubles affectés à l’exploitation de ces navires et aéronefs est uniquement imposable dans l’État contractant où le siège de direction effective de l’entreprise est situé. Aux fins du présent paragraphe, les dispositions du paragraphe 2 de l’article 8 s’appliquent.
4. Tous les autres éléments de la fortune d’un résident d’un État contractant ne sont imposables que dans cet État. CHAPITRE V. ÉLIMINATION DE LA DOUBLE IMPOSITION
Fortune. 1. Fortune represented by immovable property, as defined in article 6, may be taxed in the Contracting State in which such property is situated.
2. Fortune represented by movable property forming part of the business property of a permanent establishment of an enterprise, or by movable property pertaining to a fixed base used for the performance of professional services, may be taxed in the Contracting State in which the permanent establishment or fixed base is situated.
3. Ships and aircraft operated in international traffic, and movable property pertaining to the operation of such ships and aircraft, may be taxed in the Contracting State in which the place of effective management of the enterprise is situated.
4. All other elements of fortune of a resident of a Contracting State shall be taxable only in that State. Chapter V Provisions for the Elimination of Double Taxation