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<h1>Income from Immovable Property Taxable Only Where Located; Includes Property Accessories, Livestock, and Natural Resource Rights.</h1> Income from immovable property is taxable solely in the Contracting State where the property is located. 'Immovable property' is defined by the laws of the state where the property exists and includes property accessories, livestock, agricultural equipment, and rights related to natural resources, excluding ships and aircraft. The taxation applies to income from direct use, leasing, or other uses of such property. These rules also cover income from immovable property owned by enterprises or used for independent personal services.