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Meaning of 'full basis' and 'bareboat basis' leases
13. Various commercial arrangements are entered into in the shipping and airline industries and the terminology used to describe the arrangements differs between the industries. The concepts of full basis and bareboat leases in the OECD Model Tax Convention on Income and on Capital (OECD Model) and the US and UK Conventions are more general concepts that provide a broad principle that can be applied to the various industry specific arrangements. The concept of a 'lease' in this context is therefore considered to be a broad one, as opposed to any strict legal or specific domestic tax law meaning of lease. http://law.ato.gov.au/atolaw/view.htm?docid=DTR/TR2006D8/NAT...
Marina Menendez Argentina Local time: 19:02 Works in field Native speaker of: Spanish PRO pts in category: 24