Taxation of immovable property: income may be taxed in the State where the property is situated, including lettings. Income from immovable property may be taxed in the Contracting State in which the property is situated; this applies to income from direct use, letting or other use, and to income of an enterprise and immovable property used for professional services. 'Immovable property' is defined by the law of the State where the property lies and includes accessories, agricultural livestock and equipment, landed property rights, usufruct and payments for working mineral deposits, while excluding ships and aircraft.