Page:United States Statutes at Large Volume 63 Part 3.djvu/566

 O0 Stat. 1773. 0oStat. 1773. Tax exemption of funds, etc. 60 Stat. 1773. Rights and privi- leges of Institute. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [63 STAT. ment of the Superintendent of the CBAI and the Special Representative." 5. Clause XVI of the Basic Agreement is amended to read as follows: "The parties hereto declare their recognition that the Institute, being a corporate instrumentality of the United States of America, wholly owned, directed, and controlled by the Government of the United States of America, is entitled to share fully in the immunity from suit in the courts of Brazil which is enjoyed by the United States of America." 6. Clause XVII of the Basic Agreement is hereby amended to read as follows: "Any of the funds introduced into Brazil by the Institute for the purpose of the cooperative education program shall be exempt from taxes, service charges, investment or deposit requirements, and other currency controls, and shall be converted into cruzeiros at the then current rate of exchange but in any event at a rate of exchange not less than Cr$18,50 per dollar. Similarly, where it may be necessary or advisable to convert cruzeiros into dollars for the financing of grants or for other expenditures in the United States of America, the conversion of cruzeiros into dollars shall be made at the then current rate of exchange but in any event at a rate of exchange not less than Cr$18,50 per dollar." 7. Clause XVIII of the Basic Agreement is hereby amended to read as follows: "a. All rights and privileges which are enjoyed by governmental and similar official divisions of the Government and by the personnel and employees of the same shall accrue to the Institute and to all its personnel and employees. Such rights and privileges shall include, but not by way of limita- tion, free postal, telegraph, and telephone service whenever possible, passes on railroads administered by the Government and the right to rebates or preferential tariffs allowed to departments of the Government by domestic companies of maritime and river navigation, air travel, telegraph, tele- phone, etc., and also freedom and immunity from excise, stamp, consular charges, property, and any or all other taxes. The Institute shall be exempted from all imposts, taxes and emoluments. b. All employees of the Institute engaged in carrying out the objectives of the cooperative education program shall be exempt from all Brazilian income taxes and social security taxes with respect to income on which they are obliged to pay income or social security taxes to the Government of the United States of America and from property taxes on per- sonal property intended for their own use. Said employees shall also be exempt from the payment of customs and import duties on personal effects and equipment and supplies

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