Immovable property taxation: income from property situated in another state may be taxed in that state under the treaty. Income derived by a resident of a Contracting State from immovable property situated in the other Contracting State may be taxed in that other State. This includes income from direct use, letting or use in any other form, and covers enterprise income and income used to perform independent personal services. The term immovable property is defined by the law of the State where the property is located and includes accessories, agricultural livestock and equipment, landed-property rights, usufruct, and payments for working mineral deposits and other natural resources; ships and aircraft are excluded.