59 STAT.] FRANCE-DOUBLE TAXATION-JULY 25, 1939 (6) The professional profits tax; (7) The tax on income from securities and movable capital; (8) The general income tax. ARTICLE 2. Income from real property, in- cluding income from agricultural undertakings, shall be taxable only in the State in which such real property is situated. ARTICLE 3. An enterprise of one of the con- tracting States is not subject to taxation by the other contracting State in respect of its industrial and commercial profits except in respect of such profits allocable to its permanent establishment in the latter State. No account shall be taken, in determining the tax in one of the contracting States, of the pur- chase of merchandise effected therein by an enterprise of the other State for the purpose of sup- plying establishments maintained by such enterprise in the latter State. The competent authorities of the two contracting States may lay down rules by agreement for the apportionment of industrial and commercial profits. The term "industrial and com- mercial profits" shall not include the following: (a) Income from real property; (b) Income from mortgages, from public funds, securi- ties (including mortgage (6) L'impot sur les b6enfices des professions non commerciales; (7) L'imp6t sur le revenu des valeurs et capitaux mo- biliers; (8) L'imp6t g6enral sur le revenu. ARTICLE 2. Les revenus des biens immo- biliers, y compris les b6n6fices des exploitations agricoles, sont taxes seulement dans l'Etat oi se trou- vent ces biens. ARTICLE 3. Une entreprise de l'un des Etats contractants n'est soumise A l'imp6t de l'autre Etat con- tractant, en ce qui concerne les benefices industriels et commer- ciaux, qu'en raison des b6enfices provenant des 6tablissements sta- bles qu'elle exploite dans ce der- nier Etat. N'entrent pas en compte pour l'assiette de l'imp6t dans l'un des Etats contractants, les achats de marchandises qui y sont effectu6s par une entreprise de l'autre Etat pour l'approvisionnement des etablissements que la dite entre- prise exploite dans ce dernier Etat. Les autorites comp6tentes des deux Etats contractants peuvent se mettre d'accord pour la r6parti- tion des benefices industriels et commerciaux. L'expression "b6n6fices indus- triels et commerciaux" ne com- prend pas ce qui suit: (a) Revenu de propri6t6 immo- biliere; (b) Revenu d'hypotheque, fonds publics, valeurs mo- bilieres (obligations hypo- Income from real property. Tax on proflts, re- striction. Purchase of mer. chandise. "Industrial and commercial profits.' 895
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