Taxation of pensions and annuities: residency generally grants exclusive taxing right, with exceptions for lump sums and social security. Pensions and similar remuneration for past employment and annuities paid to a resident are taxable only in the State of residence, except that ... Summary
Taxation of pensions and annuities: residency generally grants exclusive taxing right, with exceptions for lump sums and social security.
Pensions and similar remuneration for past employment and annuities paid to a resident are taxable only in the State of residence, except that non-periodical payments made for past employment in the other State may be taxed in that other State. Pensions under a State social security system may be taxed in the paying State. Annuity means a stated periodic sum payable for life or a specified period in return for adequate consideration.
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