Immovable property taxation: situs State may tax property income, including agricultural and mineral related rights.

Income from immovable property may be taxed in the Contracting State where the property is situated. Immovable property is defined by that State's law and usage and includes accessories, agricultural livestock and equipment, rights subject to landed property law, usufruct and payments for working mineral deposits, while ships, boats and aircraft are excluded. The situs State's taxing right covers income from direct use, letting or other use, and applies to enterprise income and income used to provide independent personal services.

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