Common use of CAPITAL GAINS Clause in Contracts

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other Contracting State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or together with the whole enterprise)) or of such a fixed base, may be taxed in that other Contracting State. (3. Gains from the alienation of ships or aircraft operated in international traffic and movable property, pertaining to the operation of such ships or aircraft shall be taxable only in the Contracting State in which the enterprise is a resident. 4) . Gains from the alienation of shares of the capital stock of a company the property of which consists directly or indirectly principally of immovable property situated in a Contracting State may be taxed in that Contracting State. 5. Gains from the alienation of shares other than those mentioned in paragraph 4 representing a participation of 25% in a company which is a resident of a Contracting State may be taxed in that Contracting State. 6. Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) 1 to 5 and (4) of this Article shall be taxable only arising in the other Contracting State of which the alienator is a residentmay be taxed in that other Contracting State.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement Convention and situated in the other Contracting State may be taxed in that other State. (2) . Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading quoted on a an approved Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) . Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that Contracting State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) . Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) 3 and (4) 4 of this Article shall be taxable only in the Contracting State of which the alienator is a resident. 6. The provisions of paragraph 5 of this Article shall not affect the right of a Contracting State to levy according to its law a tax on capital gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned Contracting State at any time during the six years immediately preceding the alienation of the property if the property was held by that individual, or by the spouse of that individual, before that individual became a resident of that other State.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) . Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading traded on a recognised Stock Exchange, deriving their value or the greater part at least three-quarters of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally derive at least three-quarters of their value directly or indirectly from immovable property situated in the other Contracting State, or may be taxed in that other State. For the purposes of sub-paragraph (b) of this paragraph, assets consisting of shares referred to in sub-paragraph (a) of this paragraph, may paragraph shall be taxed in that other Stateregarded as immovable property. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) . Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State traffic, or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) . Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) 3 and (4) of this Article 4 shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) 3. Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State traffic, or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. 4. Gains derived by an enterprise of a Contracting State from the alienation of containers (including trailers, barges and related equipment for the transport of containers) as mentioned in paragraph 3 of Article 8 shall be taxable only in that State. 5) . Gains from the alienation of any property other than that referred to in paragraphs 1, 2, 3 and 4 of this Article and paragraph 3 of Article 12 shall be taxable only in the Contracting State of which the alienator is a resident. 6. With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this AgreementGulf Air, the provisions of paragraph (4) of this Article 3 shall apply only to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) Sultanate of Article 8 are attributedOman. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable real property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other Contracting State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable (personal) property forming part of the business property assets of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, or of movable (personal) property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or together with the whole enterprise)) or such a fixed base, may be taxed in that other Contracting State. (4) 3. Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise and of that Contracting State or movable (personal) property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that Contracting State. (4. Gains from the alienation of shares of the capital stock of a company the property of which consists directly or indirectly principally of real property situated in a Contracting State may be taxed in that Contracting State. 5) With respect to gains . Gains from the alienation of shares other than those mentioned in paragraph 4 representing a participation of 25 percent in a company which is a resident of a Contracting State may be taxed in that Contracting State. 6. Gains derived by a shipping or airline company mentioned in paragraph (4) resident of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the a Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) 1 through 5 and (4) of this Article shall be taxable only arising in the other Contracting State of which the alienator is a residentmay be taxed in that other Contracting State.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a recognized Stock Exchange, deriving their value or the greater part more than half of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. (6) The provisions of this Article shall not affect the right of a Contracting State to levy according to its law a tax chargeable in respect of gains from the alienation of any property on a person who is a resident of that State at any time during the fiscal year in which the property is alienated, or has been so resident at any time during the six years immediately preceding that year.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement Convention and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading quoted on a an approved Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that Contracting State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. (6) The provisions of pararaph (5) of this Article shall not affect the right of a Contracting State to levy according to its law a tax on capital gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first- mentioned Contracting State at any time during the six years immediately preceding the alienation of the property if the property was held by that individual, or by the spouse of that individual, before that individual became a resident of that other State.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State . Capital gains from the alienation of immovable property, as defined in paragraph (2) of 2. Capital gains from the alienation of shares in a company incorporated in a Contracting State whose assets consist wholly or mainly of immovable property referred to as defined in paragraph (2) of Article 6 of this Agreement and 7 which is situated in the other that Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains . Capital gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing professional services, including such gains from the alienation of such a permanent establishment (alone alone, or together with the whole enterprise)) or of such a fixed base, may be taxed in that the other State. 4. Notwithstanding the provisions of paragraph (43) Gains of this Article capital gains derived by a resident of a Contracting State from the alienation of ships or and aircraft operated in international traffic by an enterprise of that Contracting State or and movable property pertaining to the operation of such ships or aircraft, and aircraft shall be taxable only in that Contracting State. (5) With respect to . Capital gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to those mentioned in paragraphs (1), (2), (3) and (43) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. 6. The provisions of paragraph (5) of this Article shall not affect the right of a Contracting State to levy according to its own law a tax on capital gains from the alienation of any property derived by a person who is a resident of the other Contracting State and has been a resident of the first-mentioned Contracting State at any time during the five years immediately preceding the alienation of the property.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a recognised Stock Exchange, deriving their value or the greater part more than half of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. (6) The provisions of this Article shall not affect the right of a Contracting State to levy according to its law a tax chargeable in respect of gains from the alienation of any property on a person who is a resident of that State at any time during the fiscal year in which the property is alienated, or has been so resident at any time during the six fiscal years immediately preceding that year.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident . For the purposes of a Contracting State paragraph 1, gains from the alienation of: of immovable property situated in the other Contracting State shall include gains from shares (a) sharesincluding stock and any security), other than shares in which there is substantial and regular trading quoted on a Stock Exchangestock exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains . Gains, other than those dealt with in paragraph 2, from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) . Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State traffic, or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) . Gains from the alienation of any property other than that referred to in the preceding paragraphs (1), (2), (3) and (4) of this Article Article, shall be taxable only in the Contracting State of which the alienator is a resident. 6. The provisions of paragraph 5 shall not affect the right of a Contracting State to levy, according to its law, a tax on gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned State at any time during the three years immediately preceding the alienation of the property if the property was held by the individual before he became a resident of that other State.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement Convention and situated in the other Contracting State may be taxed in that other State. (2) . Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-sub- paragraph (a) of this paragraphabove, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) . Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an that enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that Contracting State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) . Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) 3 and (4) 4 of this Article shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (3. Gains from the alienation of property forming part of the business property of an enterprise and consisting of ships or aircraft operated by such enterprise in international traffic or of movable property pertaining to the operation of such ships or aircraft shall be taxable only in the Contracting State in which the place of effective management of the enterprise is situated. 4) . Gains derived by a resident of a Contracting State from the alienation of ships shares or aircraft operated other interests deriving more than 50 per cent of their value directly or indirectly from immovable property situated in international traffic by an enterprise of that the other Contracting State or movable property pertaining to the operation of such ships or aircraft, shall may be taxable only taxed in that other State. (5) With respect to . Notwithstanding the provision of paragraph 4, gains derived by a shipping resident of a Contracting State from the alienation of shares or airline other interests in a company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government a resident of the other Contracting State to which the profits mentioned may be taxed in paragraph (4) of Article 8 are attributedthat other State. (6) . Gains from the alienation of any property property, other than that referred to in paragraphs (1), (2), (3) , 4 and (4) of this Article 5, shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other Contracting State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such a fixed base, may be taxed in that other State. (4) 3. Gains derived received by an enterprise which is a resident of a Contracting State from the alienation of ships or aircraft ships, aircraft, railway and road vehicles operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or ships, aircraft, railway and road vehicles shall be taxable only in that State. (4. Gains from the alienation of shares in the share capital of a company the property of which consists directly or indirectly principally of immovable property situated in a Contracting State may be taxed in that State. 5) With respect to gains derived by a shipping or airline company . Gains from the alienation of shares other than those mentioned in paragraph (4) 4 and representing a portion of Article 8 not less than 25 per cent of this Agreement, the provisions capital of paragraph (4) of this Article shall apply to the part of those gains company which is attributable under its constitutive contract to the Government a resident of the a Contracting State to which the profits mentioned may be taxed in paragraph (4) of Article 8 are attributedthat State. (6) . Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article 1 to 5 shall be taxable only in the that Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) 3. Gains derived by a resident and enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains 4. Gains derived by a shipping resident of a Contracting State from the alienation of shares or airline company comparable rights in a company, the assets of which consist wholly or principally of immovable property as referred to in Article 6 and situated in the other Contracting State may be taxed in that other State. 5. Gains from the alienation of shares in a company, which is a resident of a Contracting State other than those mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the forming part of those gains which is attributable under its constitutive contract to the Government at least 20 per cent of the Contracting capital of the company may be taxed in that State, but the tax imposed in that State shall be reduced by an amount equal to which the profits mentioned in paragraph (4) of Article 8 are attributed50 per cent thereof. (6) . Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) , 4, and (4) of this Article 5 shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. ‌ (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a recognised Stock Exchange, deriving their value or the greater part more than half of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. (6) The provisions of this Article shall not affect the right of a Contracting State to levy according to its law a tax chargeable in respect of gains from the alienation of any property on a person who is a resident of that State at any time during the fiscal year in which the property is alienated, or has been so resident at any time during the six fiscal years immediately preceding that year.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other Contracting State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other Contracting State. (4) 3. Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State traffic, or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that Contracting State. (5) With respect to gains 4. Gains derived by a shipping resident of a Contracting State from the alienation of: a) Shares or airline company mentioned comparable interests in the capital of a company, other than shares quoted on a recognised stock exchange, deriving more than 50 per cent of their value directly or indirectly from immovable property situated in the other Contracting State; b) an interest in a partnership or trust deriving more than 50 per cent of its value directly or indirectly from immovable property situated in the other Contracting State; or c) exploration or exploitation rights or shares (or comparable instruments) deriving their value or the greater part of their value directly or indirectly from such rights, may be taxed in that other Contracting State. In this paragraph (4) «exploration or exploitation rights» mean rights to assets to be produced by the exploration or exploitation of Article 8 of this Agreementnatural resources in the other Contracting State, the provisions of paragraph (4) of this Article shall apply including rights to interests in or to the part benefit of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributedsuch assets. (6) 5. Gains from the alienation of any property property, other than that referred to in paragraphs (1), (2), (3) 3 and (4) of this Article , shall be taxable only in the Contracting State of which the alienator is a resident. 6. The provisions of paragraph 5 shall not affect the right of a Contracting State to levy, according to its law, a tax on gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned Contracting State at any time during the five years immediately preceding the alienation of the property.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing professional services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) 3. Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that Contracting State. 4. Gains from the alienation of: (a) any right, licence or privilege to explore for, drill for, or take petroleum, natural gas or other related hydrocarbons situated in a Contracting State, or (b) any right to assets to be produced in a Contracting State by the activities referred to in sub-paragraph (a) above or to interests in or to the benefit of such assets situated in a Contracting State, may be taxed in that State. 5. Gains from the alienation of: (a) With respect shares, other than shares quoted on an approved stock exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in a Contracting State or from any right referred to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 4 of this AgreementArticle, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in a Contracting State, of rights referred to in paragraph 4 of this Article, or of shares referred to in sub-paragraph (a) above, may be taxed in that State. 6. The provisions of paragraph (4) 5 of this Article shall apply to not apply: (a) in the part case of those gains which is attributable under its constitutive contract to shares, where immediately before the Government alienation of the Contracting State shares, the alienator owned, or the alienator and any persons related to or connected with him owned, less than 10 per cent of each class of the share capital of the company; or (b) in the case of an interest in a partnership or trust, where immediately before the alienation of the interest, the alienator was entitled to, or the alienator and any persons related to or connected with him were entitled to, an interest of less than 10 per cent of the income and capital of the partnership or trust. 7. For the purposes of paragraph 5 of this Article: (a) the term "an approved stock exchange" means a stock exchange prescribed for the purposes of the Canadian Income Tax Act or a recognised stock exchange within the meaning of the United Kingdom Corporation Tax Acts; and (b) the term "immovable property" does not include any property (other than rental property) in which the profits mentioned in paragraph (4) business of Article 8 are attributedthe company, partnership or trust was carried on. (6) 8. Gains from the alienation of any property property, other than that referred to in paragraphs (1), (2), (3) , 4 and (4) 5 of this Article shall be taxable only in the Contracting State of which the alienator is a resident. 9. The provisions of paragraph 8 of this Article shall not affect the right of a Contracting State to levy according to its law a tax on or in respect of gains from the alienation of any property on a person who is a resident of that State at any time during the fiscal year in which the property is alienated, or has been so resident at any time during the six years immediately preceding the alienation of the property. 10. Where an individual ceases to be a resident of a Contracting State and by reason thereof is treated under the laws of that State as having alienated property before ceasing to be a resident of that State and is taxed in that State accordingly and at any time thereafter becomes a resident of the other Contracting State, the other Contracting State may tax gains in respect of the property only to the extent that such gains had not accrued while the individual was a resident of the first-mentioned State. However, this provision shall not apply to property, any gain from which that other State could have taxed in accordance with the provisions of this Article, other than this paragraph, if the individual had realized the gain before becoming a resident of that other State. The competent authorities of the Contracting States may consult to determine the application of this paragraph.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) . Gains derived by a resident of a Contracting State from the alienation of: (a) of shares, other than shares in which there is substantial and regular trading on a Stock Exchange, or comparable interests, deriving their value or the greater part more than 50 per cent of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, State may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) . Gains derived by a resident that an enterprise of a Contracting State that operates ships or aircraft in international traffic derives from the alienation of such ships or aircraft operated in international traffic by an enterprise of that Contracting State aircraft, or from movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that Contracting State. (5) . With respect to gains derived by a shipping or airline company mentioned in paragraph the air transport consortium Scandinavian Airlines System (4) of Article 8 of this AgreementSAS), the provisions of this paragraph (4) of this Article shall apply only to such part of the gains as corresponds to the part participation held in that consortium by SAS Sverige AB, the Swedish partner of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributedSAS. (6) 5. Gains from the alienation of any property property, other than that referred to in paragraphs (1), (2), (3) 3 and (4) of this Article , shall be taxable only in the Contracting State of which the alienator is a resident. 6. Notwithstanding the provisions of paragraph 5, gains from the alienation of shares or other rights in a company, or of interests in a partnership or trust derived by an individual who has been a resident of a Contracting State and who has become a resident of the other Contracting State, may be taxed in the first-mentioned State if the alienation of the property occurs at any time during the seven years next following the date on which the individual has ceased to be a resident of the first- mentioned State. The gain so taxed shall not include the gain, if any, that accrues during the period during which the individual is or was a resident of the other Contracting State.

CAPITAL GAINS. (1a) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to may be taxed in Article 6 the Contracting State in which such property is situated. (b) Gains from the alienation of this Agreement and shares or other rights in a company the assets of which consist principally of immovable property situated in the other a Contracting State may be taxed in that other State. (2c) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or a trust the assets of which consist principally of immovable property situated in the other a Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, State may be taxed in that other State. (3d) For the purposes of subparagraphs (b) and (c), and for the purposes of paragraph 2 of Article 22, the term “immovable property situated in a Contracting State” includes immovable property situated in that State which is referred to in Article 6, and the shares or other rights the value of which is derived, directly or indirectly, principally from immovable property situated in that State, and an interest in a partnership or trust, the value of which is derived, directly or indirectly, principally from immovable property situated in that State; but it does not include property, other than rental property, through which the business of the company, partnership or trust is carried on. 2. Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), ) or of such fixed base may be taxed in that other State. (4) 3. Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated by that enterprise in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) . Gains from the alienation of any property other than that referred to in paragraphs (1), (2)2 and 3, (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. 5. The provisions of paragraph 4 shall not prevent a Contracting State from taxing, according to its law, gains derived by an individual who is a resident of the other Contracting State from the alienation of any property, if the alienator: (a) is a national of the first-mentioned State or has been a resident of that State for ten years or more prior to the date of the alienation of the property, and (b) has been a resident of that first-mentioned State at any time within the five year period immediately preceding the date of the alienation.

CAPITAL GAINS. (1) Gains . Capital gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State . Capital gains from the alienation of:of- (a) shares, other than a. shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other a Contracting State, or (b) b. an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other a Contracting State, State or of shares referred to in sub-paragraph subparagraph (a) of this paragraph, above. may be taxed in that other Statethe Contracting State in which such immovable property is situated. In this paragraph the term "shares" does not include shares quoted or listed on a stock exchange. (3) Gains . Capital gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, State or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. Provided that if such movable property consists of shares or of an interest in a partnership or trust the gains from which under paragraph (2) of this Article may be taxed in the Contracting State of which the alienator is a resident, because the relevant immovable property is situated in that State, the said gains shall be taxable only in that State. 4. Except as provided in paragraph (42) Gains of this Article and notwithstanding the provisions of paragraph (3) of this Article, capital gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that State. (5) With respect to . Notwithstanding the preceding provisions of this Article, capital gains derived by a shipping resident of a Contracting State from the alienation of rights to assets to be produced by the exploration or airline company mentioned exploitation of the sea bed and subsoil and their natural resources situated in paragraph (4) of Article 8 of this Agreementthe other Contracting State, the provisions of paragraph (4) of this Article shall apply including rights to interests in or to the benefit of such assets, or from the alienation of shares deriving their value or the greater part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned their value directly or indirectly from such rights, may be taxed in paragraph (4) of Article 8 are attributedthat other State. (6) Gains . Capital gains from the alienation of any property other than that those referred to in paragraphs (1), ) to (2), (3) and (45) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. Provided that where under the law of that Contracting State an individual, in respect of such gains, is subject to tax thereon by reference only to the amount thereof which is remitted to or received in that State, the foregoing provisions of this paragraph shall not operate in relation to so much of such gains as is not remitted to or received in that State. 7. The provisions of paragraph (6) of this Article shall not affect the right of a Contracting State to levy, according to its law, a tax on capital gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned State at any time during the ten years immediately preceding the alienation of the property. 8. For the purposes of this Article the term "immovable property" means immovable property as defined in paragraph (2) of Article 7.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State., (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) Gains Except as provided in paragraph (2) of this Article and notwithstanding the provisions of paragraph (3) of this Article, gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State traffic, or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that Contracting State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. Provided that where under the law of that Contracting State an individual, in respect of such gains, is subject to tax thereon by reference only to the amount thereof which is received in that Contracting State, the foregoing provisions of this paragraph shall not operate in relation to so much of such gains as is not received in that Contracting State. (6) The provisions of paragraph (5) of this Article shall not affect the right of a Contracting State to levy according to its law a tax on gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned Contracting State at any time during the three years immediately preceding the alienation of the property. (7) For the purposes of this Article the term “immovable property” means immovable property as defined in paragraph (2) of Article 7 of this Convention. Article 14A

CAPITAL GAINS. (1) Gains Capital gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State Capital gains from the alienation of:of - (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other a Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other a Contracting State, State or of shares referred to in sub-paragraph subparagraph (a) of this paragraph, may be taxed in that other State.above (3) Gains Capital gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, State or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. Provided that if such movable property consists of shares or of an interest in a partnership or trust the gains from which under paragraph (2) of this Article may be taxed in the Contracting State of which the alienator is a resident, because the relevant immovable property is situated in that State, the said gains shall be taxable only in that State. (4) Gains Except as provided in paragraph (2) of this Article and notwithstanding the provisions of paragraph (3) of this Article, capital gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that State. (5) With respect to Notwithstanding the preceding provisions of this Article, capital gains derived by a shipping resident of a Contracting State from the alienation of rights to assets to be produced by the exploration or airline company mentioned exploitation of the sea bed and subsoil and their natural resources situated in paragraph (4) of Article 8 of this Agreementthe other Contracting State, the provisions of paragraph (4) of this Article shall apply including rights to interests in or to the benefit of such assets, or from the alienation of shares deriving their value or the greater part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned their value directly or indirectly from such rights, may be taxed in paragraph (4) of Article 8 are attributedthat other State. (6) Gains Capital gains from the alienation of any property other than that those referred to in paragraphs (1), ) to (2), (3) and (45) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. Provided that where under the law of that Contracting State an individual, in respect of such gains, is subject to tax thereon by reference only to the amount thereof which is remitted to or received in that State, the foregoing provisions of this paragraph shall not operate in relation to so much of such gains as is not remitted to or received in that State. (7) The provisions of paragraph (6) of this Article shall not affect the right of a Contracting State to levy, according to its law, a tax on capital gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned State at any time during the ten years immediately preceding the alienation of the property. (8) For the purposes of this Article the term “immovable property” means immovable property as defined in paragraph (2) of Article 7.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement Convention and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) sharesshares or other comparable rights, other than shares in which there is substantial and regular trading listed on a an approved Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust trust, the assets of which consist principally of immovable property situated in the other Contracting State, or of shares or rights referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident. (6) The provisions of this Article shall not affect the right of a Contracting State to levy, according to its law, a tax chargeable in respect of gains from the alienation of any property on a person who is a resident of that State at any time during the fiscal year in which the property is alienated, or has been so resident at any time during the six fiscal years immediately preceding that year.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident . 2nd For the purposes of a Contracting State from the alienation of: (paragraph 1, a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable term "real property situated in the other Contracting State", or (b) in the case where the United States is the other Contracting State, includes real property referred to in Article 6 and situated in the United States, "a United States real property interest "and an interest in a partnership partnership, trust or trust estate to the assets of which consist principally of immovable extent that such ownership consists of" a United States real property interest "that is located in United States, b) the term "real property situated in the other Contracting State ", in the case of Sweden is the other Contracting State, or of shares includes property that is real property under Swedish law which is situated in Sweden, and, without limiting the above, also include 1) real property referred to in sub-paragraph (aArticle 6 and situated in Sweden, and 2) shares or similar rights in companies whose assets, directly or indirectly, mainly of this paragraph, may be taxed in that other State. (3) immovable property. third Gains from the alienation of movable property forming part of the business property of pertaining to a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains or a fixed base for the exercise of independent professional activity, as a resident of a Contracting State has in the other Contracting State may be taxed in that other State. The same applies to profits from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) or of such fixed base. 4th Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that State. (5) With respect . The provisions of this paragraph shall apply to gains derived by a shipping or airline company mentioned the air transport consortium Scandinavian Airlines System (SAS), but only in paragraph respect of the portion of the gain that corresponds to the participation held in that consortium by AB Aero Transport (4) of Article 8 of this AgreementABA), the provisions Swedish partner of paragraph Scandinavian Airlines System (4) SAS ). Gains derived by an enterprise of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the a Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any containers used in international traffic or movable property other than that referred pertaining to in paragraphs the operation of such containers (1)including trailers, (2), (3barges and related equipment for the transport of containers) and (4) of this Article shall be taxable only in this state. 5th Gains described in Article 12 shall be taxable only under the Contracting State provisions of which the alienator is a residentArticle 12.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement Convention and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading quoted on a Stock Exchangean approved stock exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in rights deriving from a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-sub- paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident, provided he is subject to tax in respect of the gains in that State. (6) The provisions of paragraph (5) of this Article shall not affect the right of a Contracting State to levy according to its law a tax on capital gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first- mentioned Contracting State at any time during the six years immediately preceding the alienation of the property.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to property, as defined in paragraph 2 of Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph6, may be taxed in that other Statethe Contracting State in which such property is situated. (32) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing professional services, including such gains from the alienation of such a permanent establishment (alone or together with the whole enterprise), ) or of such a fixed base may be taxed in that the other State. (4) Gains . However, gains derived by a resident an enterprise of a Contracting State from the alienation of ships or and aircraft operated in international traffic by an enterprise of that Contracting State or and movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (53) With respect to gains derived by Gains from the alienation of shares of a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreementcompany, the provisions property of paragraph (4) which consists principally of this Article shall apply to immovable property situated in a Contracting State, may be taxed in that State. Gains from the part alienation of those gains interest in a partnership or a trust, the property of which is attributable under its constitutive contract to the Government consists principally of the immovable property situated in a Contracting State to which the profits mentioned State, may be taxed in paragraph (4) of Article 8 are attributedthat State. (64) Gains from the alienation of any property other than that referred to those mentioned in paragraphs (1), (2), (3) 2 and (4) of this Article 3 shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) . Gains derived by a resident of a Contracting State from the alienation of: (a) of shares, other than shares in which there is substantial and regular trading on a Stock Exchange, or comparable interests, deriving their value or the greater part more than 50 per cent of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, State may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) . Gains derived by a resident that an enterprise of a Contracting State that operates ships or aircraft in international traffic derives from the alienation of such ships or aircraft operated in international traffic by an enterprise of that Contracting State aircraft, or from movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that Contracting State. (5) . With respect to gains derived by a shipping or airline company mentioned in paragraph the air transport consortium Scandinavian Airlines System (4) of Article 8 of this AgreementSAS), the provisions of this paragraph (4) of this Article shall apply only to such part of the gains as corresponds to the part participation held in that consortium by SAS Sverige AB, the Swedish partner of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributedSAS. (6) 5. Gains from the alienation of any property property, other than that referred to in paragraphs (1), (2), (3) 3 and (4) of this Article , shall be taxable only in the Contracting State of which the alienator is a resident. 6. Notwithstanding the provisions of paragraph 5, gains from the alienation of shares or other rights in a company, or of interests in a partnership or trust derived by an individual who has been a resident of a Contracting State and who has become a resident of the other Contracting State, may be taxed in the first- mentioned State if the alienation of the property occurs at any time during the seven years next following the date on which the individual has ceased to be a resident of the first-mentioned State. The gain so taxed shall not include the gain, if any, that accrues during the period during which the individual is or was a resident of the other Contracting State.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement article 6, paragraph 2, and situated in the other Contracting State may be taxed in that other State. (2) . Gains derived by a resident of a Contracting State from the alienation of: (a) shares, of shares or other interests in companies more than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part 50 per cent of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the whose assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, State may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise), may be taxed in that other State. (4) . Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) . Gains from the alienation of any property other than that referred to in the preceding paragraphs (1), (2), (3) and (4) of this Article article shall be taxable only in the Contracting State of which the alienator is a resident. 6. In the case of an individual who has been a resident of a Contracting State for at least five years and who has become a resident of the other Contracting State, the provisions of paragraph 5 shall not prejudice the right of the first State, in accordance with its domestic laws, to tax, in the case of shares in a company that is a resident of the first Contracting State, an increase in the property of that person up until the change of residence of that person. In such case, the capital gain taxed in the first State shall not be included in the determination of the subsequent capital gain by the other State.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable im- movable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)enter- prise) or of such fixed base, may be taxed in that other State. (4) 3. Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable tax- able only in that Statethe Contracting State in which the place of effective management of the enterprise is situated. (5) With respect to gains 4. Gains derived by a shipping resident of a Contracting State from the alienation of shares deriving more than 50 per cent of their value directly or airline company mentioned indirectly from immova- ble property situated in paragraph (4) of Article 8 of this Agreement, the other Contracting State may be taxed in that other State. The provisions of paragraph (4) of this Article the preceding sentence shall not apply to gains: a) from the part alienation of those gains which is attributable under its constitutive contract to shares quoted on a stock exchange established in ei- ther Contracting State or on a stock exchange as may be agreed by the Government competent authorities of the Contracting State to States; or b) from the alienation of shares in a company the value of which consist of more than 50 per cent of immovable property, in which the profits mentioned in paragraph (4) of Article 8 are attributedcompany car- xxxx on its business. (6) 5. Gains from the alienation of any property other than that referred to in paragraphs (para- graphs 1), (2), (3) 3 and (4) of this Article , shall be taxable only in the Contracting State of which the alienator is a resident."

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident . For the purposes of a Contracting State paragraph 1, gains from the alienation of: of immovable property situated in the other Contracting State shall include gains from shares (a) sharesincluding stock and any security), other than shares in which there is substantial and regular trading quoted on a Stock Exchangestock exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) Gains . Gains, other than those dealt with in paragraph 2, from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) . Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State traffic, or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that StateState-. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) of Article 8 are attributed. (6) . Gains from the alienation of any property other than that referred to in the preceding paragraphs (1), (2), (3) and (4) of this Article Article, shall be taxable only in the Contracting State of which the alienator is a resident. 6. The provisions of paragraph 5 shall not affect the right of a Contracting State to levy, according to its law, a tax on gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned State at any time during the three years immediately preceding the alienation of the property if the property was held by the individual before he became a resident of that other State.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) . Gains derived by from the alienation of shares, rights or an interest in a company, in any other legal person or in a partnership, the assets of which consist principally of, or of rights in, immovable property situated in a Contracting State or of shares in a company the assets of which consist principally of, or of rights in, such immovable property situated in a Contracting State may be taxed in the Contracting State in which the immovable property is situated. 3. Gains from the alienation of shares or other rights, other than those mentioned in paragraph 2 of this Article, in a company or other legal person which is a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that Contracting State if the recipient of the gain, during the 12-month period preceding such alienation, had a participation, directly or indirectly, of at least 25 per cent in the capital of that company or other Statelegal person. (4. Gains, other than those dealt with in paragraphs 2 and 3) Gains , from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other Contracting State. (4) Gains derived by a resident 5. Except as provided in Paragraphs 2 and 3 of a Contracting State this Article and notwithstanding the provisions of paragraph 4 of this Article, gains from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to in which the profits mentioned in paragraph (4) place of Article 8 are attributedeffective management of the enterprise is situated. (6) . Gains from the alienation of any property other than that those referred to in paragraphs (1), (2), (3) , 4 and (4) 5 of this Article shall be taxable only in the Contracting State of which the alienator is a resident. 7. For the purposes of this Article the term “immovable property” means immovable property as defined in paragraph 2 of Article 6.

CAPITAL GAINS. (1) . Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, may be taxed in that other State. (3) . Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) 3. Gains derived by a resident an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State traffic, or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that State. (5) With respect to gains 4. Gains derived by an individual of a shipping Contracting State from the alienation of shares or airline other rights in a company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government a resident of the other Contracting State, as well as gains from the alienation of options or other financial instruments related to such shares or rights, may be taxed in that other State, but only if the alienator has been a resident of that other State at any time during the five years immediately preceding the alienation of the shares, rights, options or financial instruments. 5. Gains from the alienation of shares of a company the property of which consists directly or indirectly principally of immovable property situated in a Contracting State to which the profits mentioned may be taxed in paragraph (4) of Article 8 are attributedthat State. 6. Gains derived by an enterprise of a Contracting State from the alienation of containers (6including trailers and related equipment for the transport of containers) used for the transport of goods or merchandise shall be taxable only in that Contracting State, except insofar as those containers or trailers and related equipment are used for transport solely between places within the other Contracting State. 7. Gains from the alienation of any property other than that those referred to in preceding paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other of shares and similar rights deriving more than shares in which there is substantial and regular trading on a Stock Exchange, deriving their value or the greater part 50 per cent of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraph, State may be taxed in that other State. (3) In addition to gains taxable in accordance with the provisions of the preceding paragraphs of this Article, gains derived by a resident of a Contracting State from the alienation of stock, participation, or other rights in the capital of a company which is a resident of the other Contracting State may be taxed in that other Contracting State. (4) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State, or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (45) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this Agreement, the provisions of paragraph (4) of this Article shall apply to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to in which the profits mentioned in paragraph (4) place of Article 8 are attributedeffective management of the enterprise is situated. (6) Gains Subject to the provisions of Article 12, gains from the alienation of any property other than that referred to in paragraphs (1)1 to 5, (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident.

CAPITAL GAINS. (1) Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 of this Agreement and situated in the other Contracting State may be taxed in that other State. (2) Gains derived by a resident of a Contracting State from the alienation of: (a) shares, other than shares in which there is substantial and regular trading quoted on a an approved Stock Exchange, deriving their value or the greater part of their value directly or indirectly from immovable property situated in the other Contracting State, or (b) an interest in a partnership or trust the assets of which consist principally of immovable property situated in the other Contracting State, or of shares referred to in sub-paragraph (a) of this paragraphabove, may be taxed in that other State. (3) Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting StateState or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise)) or of such fixed base, may be taxed in that other State. (4) Gains derived by a resident of a Contracting State from the alienation of ships or aircraft operated in international traffic by an enterprise of that Contracting State or movable property pertaining to the operation of such ships or aircraft, aircraft shall be taxable only in that Contracting State. (5) With respect to gains derived by a shipping or airline company mentioned in paragraph (4) of Article 8 of this AgreementGulf Air, the provisions of paragraph (4) of this Article shall apply only to the part of those gains which is attributable under its constitutive contract to the Government of the Contracting State to which the profits mentioned in paragraph (4) Sultanate of Article 8 are attributedOman. (6) Gains from the alienation of any property other than that referred to in paragraphs (1), (2), (3) and (4) of this Article shall be taxable only in the Contracting State of which the alienator is a resident, provided that those gains are subject to tax in that Contracting State. (7) The provisions of paragraph (6) of this Article shall not affect the right of a Contracting State to levy according to its law a tax on capital gains from the alienation of any property derived by an individual who is a resident of the other Contracting State and has been a resident of the first-mentioned Contracting State at any time during the three years immediately preceding the alienation of the property.