Taxation of immovable property income: source state may tax income; definition follows situs law including mineral rights. Income from immovable property derived by a resident of one Contracting State from property situated in the other State may be taxed in the State where ... Summary
Taxation of immovable property income: source state may tax income; definition follows situs law including mineral rights.
Income from immovable property derived by a resident of one Contracting State from property situated in the other State may be taxed in the State where the property is situated. Immovable property is defined by the law of the situs State and includes accessories, livestock and equipment used in agriculture and forestry, rights covered by landed property law, usufructs, and payments for working or rights to work mineral deposits, sources and other natural resources; ships, boats and aircraft are excluded. The rule covers direct use, letting and use by enterprises and independent personal services.
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