Page:United States Statutes at Large Volume 53 Part 1.djvu/693

 CLXXXVIII CODIFICATION OF INTERNAL REVENUE LAWS res), and other schedular taxes (impots cedulaires) appropriate to the type of income specified in said articles; "(2) The provisions of this agreement shall not be construed to affect 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. "(3) As used in this agreement: "(a) The term "permanent establishment" includes branches, mines and oil wells, factories, workshops, warehouses, offices, agencies, and other fixed places of business, but does not include a subsidiary corporation. "When an enterprise of one of the States carries on business in the other State through an agent established there who is authorized to contract for its account, it is considered as having a permanent establishment in the latter State. "But the fact that an enterprise of one of the contracting States has business dealings in the other State through a bona fide commission agent or broker shall not be held to mean that such enterprise has a permanent establishment in the latter State. "(b) The term "enterprise" includes every form of undertaking whether carried on by an individual, partnership (societe en nom collectif), corporation (societe anonyme), or any other entity. "(c) The term "enterprise of one of the contracting States" means, as the case may be, "American enterprise" or "French enterprise." "(d) The term "American enterprise" means an enterprise carried on in the United States by a citizen of the United States or by an American corporation or other entity; the term "American corporation or other entity" means a part- nership, corporation or other entity created or organized in the United States or under the law of the United States or of any State or Territory of the United States. "(e) The term "French enterprise" is defined in the same manner, mutatis mutandis, as the term "American enterprise." "(f) The American corporations mentioned in Articles V and VI are those which, owing to their form of organization, are subject to article 3 of the decree of December 8, 1872. The present agreement does not modify the regime of "abonnement" for securities. "(g) The term "United States," when used in a geographical sense, includes only the States and the Territories of Alaska and Hawaii, and the District of Columbia. "(h) The term "France," when used in a geographic sense, indicates the country of France, exclusive of Algeria and the Colonies. "Done in duplicate at Paris, the 27th of April, 1932. "WALTR E. EDGn "ANDRE TABniEJ." And whereas, the said convention and protocol have been ratified on both parts, and the ratifications of the two Governments were exchanged at Paris on the 9th day of April, 1935; And whereas, it is stipulated in Article X of the said convention that the convention shall become effective on the 1st day of January following the ex- change of ratifications, that is to say on the 1st day of January, 1936; Now, therefore, be it known that I, FRANKLIN D. RoosEVmLT, President of the United States of America, have caused the said convention and the said protocol to be made public, to the end that the same and every article and clause thereof may be observed and fulfilled with good faith by the United States of America and the citizens thereof on and from the 1st day of January, 1936. In testimony whereof, I have hereunto set my band and caused the Seal of the United States of America to be aixed. Done at the city of Washington this 16th day of April in the year of our Lord one thousand nine hundred and thirty-five, and of the Independ- [sKix] ence of the United States of America the one hundred and fifty-ninth. FEANKiLI D ROOSEVELT By the President: COWDEML HTu Secretary of State. EXEMPTION FROM INTERNAL REVENUE TAXES The following list of provisions (digested) is not all inclusive, and various pro- visions of a more or less restricted or "local" importance have been omitted.

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