Income from immovable property may be taxed in the state where the property is situated, covering rents and resource payments.

Income from immovable property may be taxed in the Contracting State where the property is situated. The term immovable property is defined by the law of the State where the property is located and includes accessories, agricultural and forestry livestock and equipment, fishing places, landed-property rights, usufruct and rights to payments for working mineral deposits and other natural resources; ships, boats and aircraft are excluded. The rule applies to direct use, letting or other forms of use and to income of enterprises and income arising from immovable property used for independent personal services.

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