Between Taipei Trade Center, Oslo and Norwegian Trade Council In order of strengthen the friendship and economic relations between their respective countries, particularly to alleviate the tax burden of shipping enterprises of both countries, Mr. LIU Yu, Director of the Taipei Trade Center, Oslo and Mr. Kjell-Martin Frederiksen, Director General of the Norwegian Trade Council, met in Oslo this day.
The parties have ascertained before the meeting that the financial authorities of both countries are willing to exempt, on a reciprocal basis, the shipping enterprises of the other country from income tax derived from the operation of ships in international traffic in their respective countries. To that effect, Mr. LIU Yu and Mr. Frederiksen being duly authorized by their respective authorities have signed at the meeting the present Protocol and exchanged their written instruments in which the financial authorities of both countries state that the income tax exemption on shipping enterprises is to be effective as of the date of signature.
The Taipei Trade Center, Oslo, and the Norwegian Trade Council undertake to advise each other of any changes in the tax laws which might require amendment of the terms of this protocol. Either Party to this Protocol may give a written notice of termination to the other Party on or before 30 June in any year for this Protocol to cease to be effective as of 1 January of the following calendar year.
Done at Oslo on June 7, 1991
LIU Yu Kjell-Martin Frederiksen