In consultation with representatives of the airline and shipping industries, Working Party No. 1 of the OECD Committee on Fiscal Affairs has revised the Commentary on Article 8 of the Model Tax Convention (which deals with income from the operation of ships and aircraft in international traffic) in order to take account of the evolution in international transport activities. This note includes these changes. Comments on the note should be sent before 30 June 2004 to jeffrey.owens@oecd.org and jacques.sasseville@oecd.org