Article 13 - Alienation of Property

Capital gains from immovable property taxable in the State where the property is situated under the DTAA.

Income or gains from the alienation of immovable property situated in a Contracting State may be taxed in that State; gains from property constituting business property of a permanent establishment or pertaining to a fixed base may be taxed in the State where that permanent establishment or fixed base is located; gains from ships or aircraft in international traffic are taxable only in the enterprise's State of residence. Shares principally comprised of immovable property may be taxed in the State where the property is situated (subject to the MLI value-threshold and coverage of comparable interests); other shares are taxable in the company's State of residence. Domestic capital gains rules remain unaffected for property outside these provisions.