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of <h1>Income from Immovable Property Taxed in State Where Property is Located; Includes Agriculture, Forestry Income per Local Law</h1> Income derived by a resident of one Contracting State from immovable property, including agricultural or forestry income, located in the other Contracting State, may be taxed in that other State. 'Immovable property' is defined according to the law of the State where the property is located and includes property accessory to immovable property, agriculture and forestry equipment, and rights related to mineral deposits. This provision applies to income from direct use, leasing, or other forms of utilization of immovable property, and extends to enterprises and independent personal services involving immovable property. Ships and aircraft are excluded from this definition.
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