Common use of OF DOUBLE TAXATION Clause in Contracts

OF DOUBLE TAXATION. 1. In Vietnam, double taxation shall be eliminated as follows: Where a resident of Vietnam derives income, profits or gains which under the law of Norway and in accordance with this Agreement may be taxed in Norway, Vietnam shall allow as a credit against its tax on the income, profits or gains an amount equal to the tax paid in Norway. The amount of credit, however, shall not exceed the amount of Vietnamese tax on that income, profits or gains computed in accordance with the taxation laws and regulations of Vietnam.

OF DOUBLE TAXATION. 1. In Vietnam, Vietnam double taxation shall be eliminated as follows: Where a resident of Vietnam derives incomeincome which, profits or gains which under the law of Norway and in accordance with this Agreement Agreement, may be taxed in NorwayDenmark, Vietnam shall allow as a credit against its deduction from the tax on the incomeincome of that resident, profits or gains an amount equal to the income tax paid thereon in NorwayDenmark. The amount of creditSuch deduction shall not, however, shall not exceed that part of the amount of Vietnamese income tax on that incomein Vietnam as computed before the deduction is given, profits or gains computed which is attributable to the income which may be taxed in accordance with the taxation laws and regulations of VietnamDenmark.

OF DOUBLE TAXATION. 1. In Vietnam, double taxation shall be eliminated as follows: Where a resident of Vietnam derives income, profits or gains which under the law of Norway Iceland and in accordance with this Agreement Agreement, may be taxed in NorwayIceland, Vietnam shall allow as a credit against its tax on the income, profits or gains an amount equal to the tax paid in NorwayIceland. The amount of credit, however, shall not exceed the amount of the Vietnamese tax on that income, profits or gains computed in accordance with the taxation laws and regulations of VietnamVietnam before the credit is given.