Page:United States Statutes at Large Volume 56 Part 2.djvu/329

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56 STAT.] CANADA-DOUBLE TAXATION-MAR . 4, 1942 9. The term "life annuities" referred to in Article VI of this Con- vention means a stated sum payable periodically at stated times, dur- ing life, or during a specified number of years, under an obligation to make the payments in consideration of a gross sum or sums paid by the recipient or under a contributory retirement plan. 10. The terms "engaged in trade or business" and "office or place of business" as used in Article XI of this Convention shall not be deemed to include an office used solely for the purchase of merchandise. 11. The provisions of the present Convention shall not be construed to restrict in any manner any exemption, deduction, credit or other allowance accorded by the laws of one of the contracting States in the determination of the tax imposed by such State. 12. The citizens of one of the contracting States residing within the other contracting State shall not be subjected to the payment of more burdensome taxes than the citizens of such other State. Done in duplicate, at Washington, this fourth day of March, 1942. [SEAL] SUMNER WELLES [SEAL1 LEIGHTON MCCARTHY "Life annuities." "Engaged in trade or business," "office or place of business." Exemptions, etc. Taxes on citizens of other State, restric- tion. 1409