Taxing right on immovable property permits taxation where the property is situated, including agricultural and resource rights. Income from immovable property of a resident may be taxed in the State where the property is situated, including income from agriculture and forestry. Immovable property is defined by the law of the State where the property lies and includes accessories, livestock and equipment used in agriculture and forestry, rights governed by landed property law, usufruct, and payments for working or rights to work mineral deposits and other natural resources; ships and aircraft are excluded. The taxing rule covers direct use, letting or other use and extends to enterprise income and income used for independent personal services.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxing right on immovable property permits taxation where the property is situated, including agricultural and resource rights.
Income from immovable property of a resident may be taxed in the State where the property is situated, including income from agriculture and forestry. Immovable property is defined by the law of the State where the property lies and includes accessories, livestock and equipment used in agriculture and forestry, rights governed by landed property law, usufruct, and payments for working or rights to work mineral deposits and other natural resources; ships and aircraft are excluded. The taxing rule covers direct use, letting or other use and extends to enterprise income and income used for independent personal services.
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