Income from immovable property may be taxed in the State where the property is situated; definitions and scope clarified.

Income by a resident of one Contracting State from immovable property situated in the other Contracting State may be taxed in the State where the property is located; immovable property is defined by local law, excludes vessels and aircraft, and includes accessories, agricultural livestock and equipment, usufruct, rights linked to land, and payments for working mineral deposits; the rule covers income from use, letting or other uses and applies to enterprise property and property used for independent personal services.

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