Capital gains: immovable property taxed at situs; permanent establishment movable property taxed in establishment's State. Gains from alienation of immovable property are taxable in the State where the property is situated. Gains from alienation of movable property forming part of a permanent establishment or pertaining to a fixed base may be taxed in the State where that permanent establishment or fixed base is located; ships and aircraft operated in international traffic and related movable property remain taxable only in the enterprise's State of residence. Other gains by a resident are taxable only in the resident's State. 'Alienation' is defined broadly to include sale, exchange, transfer, relinquishment, extinguishment of rights or compulsory acquisition.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capital gains: immovable property taxed at situs; permanent establishment movable property taxed in establishment's State.
Gains from alienation of immovable property are taxable in the State where the property is situated. Gains from alienation of movable property forming part of a permanent establishment or pertaining to a fixed base may be taxed in the State where that permanent establishment or fixed base is located; ships and aircraft operated in international traffic and related movable property remain taxable only in the enterprise's State of residence. Other gains by a resident are taxable only in the resident's State. "Alienation" is defined broadly to include sale, exchange, transfer, relinquishment, extinguishment of rights or compulsory acquisition.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
