Income from immovable property: source state may tax property income and related business or professional uses. Income from immovable property is taxable in the Contracting State where the property is situated; "immovable property" is defined by the law of that ... Summary
Income from immovable property: source state may tax property income and related business or professional uses.
Income from immovable property is taxable in the Contracting State where the property is situated; "immovable property" is defined by the law of that State and includes accessories, agricultural livestock and equipment, landed-property rights, usufruct, and payment rights for working mineral deposits and natural resources, while excluding ships and aircraft. The State-of-location taxing right applies to income from direct use, letting or other use, and extends to enterprise income and property used to perform professional services.
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