61 STAT.] FINLAND-DOUBLE TAXATION-- Ju ne 6,1946 2671 Jan. 7, 1947 June 6, 1946, and Agreement between the United States of America and Finland respecting January 7, 1947 relief from double taxation on shipping profits. Effected by exchange [T. I . A.S. 1696 of notes signed at Washington June 6, 1946, and January7, 1947; effective November 19, 1943. The Finnish Minister to the Secretary of State LEGATION OF FINLAND WASHINGTON, D . C . 4962 JNE 6, 1946 EXCELLENCY, I have the honor to inform Your Excellency that the Government of Finland is desirous of entering into an agreement with the Govern- ment of the United States of America relating to reciprocal exemp- tion from double taxation on shipping profits. With a view to obtaining from the appropriate authorities of the Government of the United States of America a decision that Finland meets the requirements, with respect to reciprocal exemption, of the applicable United States revenue laws, and consequently that the income of Finnish nationals and corporations which consists exclu- sively of earnings derived from the operation of ships documented under the laws of Finland are exempted from taxation by the United States, I furnish the following information, under the instructions from my Government, with respect to the provisions of Finnish law under which, on the basis of reciprocity, shipping profits of United States nationals and corporations are accorded exemption from Fin- nish income tax: "The Government is empowered to allow exceptions on the basis of reciprocity from the provisions of this law with regard to the obligatory payment of tax on income derived from abroad and on property located there and also as regards the liability to taxation of a foreign individual as well as of a foreign state, corporation, institution and foundation." (Section 6 of "Law Regarding Tax on Income and Property", enacted November 19, 1943, No. 888). The Government of Finland would appreciate, therefore, receiving assurances from the Government of the United States of America with respect to the granting of the tax exemption, as requested above, on a basis of reciprocity. The Government of Finland will consider an agreement to this effect between the two Governments as being con- cluded and in force beginning with the date specified in Your Ex- cellency's reply note giving such assurances. The Government of Finland will understand that such agreement may be terminated at any time by a six months' notice in writing given by either Govern- ment to the other Government.
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