Common use of Gains Clause in Contracts

Gains. 1. Gains derived by a resident of a Contracting State from the alienation of: a) real property situated in the other Contracting State or b) an interest in a partnership, trust or estate to the extent attributable to real property situated in the other Contracting State may be taxed in that other State. 2. For purposes of this Article, the term "real property situated in the other Contracting State" includes a United States real property interest or an equivalent interest in Turkish real property, real property referred to in Article 6 (Income from Immovable Property (Real Property)) which is situated in the other Contracting State and an interest in a partnership, trust or estate referred to in paragraph 1 b). 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, 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 such a fixed base, may be taxed in that other State. 4. Gains from the alienation of ships, aircraft, or containers operated in international traffic, or movable property pertaining to the operation of ships, aircraft, or containers shall be taxable only in the Contracting State of which the alienator is a resident. 5. Gains from the alienation of any property other than that referred to in the foregoing paragraphs shall be taxable only in the State of which the alienator is resident. However, the provisions of the foregoing sentence shall not affect the right of one of the States to levy according to its own law a tax on gains derived by a resident of the other State from the alienation of shares or bonds issued by a company which is a resident of the first-mentioned State (other than shares and bonds quoted on a stock exchange of that State) if the alienation takes place to a resident of the first-mentioned State and if the period between acquisition and alienation does not exceed one year.

Gains. 1. Gains derived by a resident of a Contracting State from the alienation of: a) of real property situated in the other Contracting State or b(immovable property) an interest in a partnership, trust or estate to the extent attributable to real property situated in the other Contracting State may be taxed in that other Contracting State. 2. For the purposes of this Article, Article the term "“real property (immovable property) situated in the other Contracting State" includes a United States ” shall include: a) real property interest or an equivalent interest in Turkish real (immovable property, real property ) referred to in Article 6 (Income from Immovable Real Property (Real Immovable Property)); b) which is situated in the where that other Contracting State and is the United States, a United States real property interest; and c) where that other Contracting State is , i) shares, including rights to acquire shares, other than shares in which there is regular trading on a stock exchange, deriving 50 percent or more of their value directly or indirectly from real property referred to in subparagraph (a) of this paragraph situated in ; and ii) an interest in a partnershippartnership or trust to the extent that the assets of the partnership or trust consist of real property situated in , trust or estate of shares referred to in paragraph 1 b)clause (i) of this subparagraph. 3. Gains from the alienation of movable property forming part of the business property of a permanent establishment which that 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 such a fixed base), may be taxed in that other Contracting State. 4. Gains derived by an enterprise of a Contracting State from the alienation of ships, aircraft, ships or containers aircraft operated or used in international traffic, traffic or movable personal property pertaining to the operation or use of shipssuch ships or aircraft shall be taxable only in that Contracting State. 5. Gains derived by an enterprise of a Contracting State from the alienation of containers (including trailers, aircraftbarges and related equipment for the transport of containers) used for the transport of goods or merchandise shall be taxable only in that Contracting State, or unless those containers are used for transport solely between places within the other Contracting State. 6. Gains from the alienation of any property other than property referred to in paragraphs 1 through 5 of this Article shall be taxable only in the Contracting State of which the alienator is a resident. 57. Gains from the alienation Where an individual who, upon ceasing to be a resident (as determined under paragraph 1 of any property other than that referred to in the foregoing paragraphs shall be taxable only in the State of which the alienator is resident. However, the provisions of the foregoing sentence shall not affect the right Article 4 (Resident)) of one of the States Contracting States, is treated under the taxation law of that Contracting State as having alienated property for its fair market value and is taxed in that Contracting State by reason thereof, the individual may elect to levy according to its own law a tax on gains derived by a resident be treated for purposes of taxation in the other Contracting State from as if the alienation of shares or bonds issued by a company which is individual had, immediately before ceasing to be a resident of the first-mentioned State (other than shares Contracting State, alienated and bonds quoted on a stock exchange of that State) if the alienation takes place reacquired such property for an amount equal to a resident of the first-mentioned State and if the period between acquisition and alienation does not exceed one yearits fair market value at such time.

Gains. 1. Gains derived by a resident of a Contracting State from that are attributable to the alienation of: a) real property situated in the other Contracting State or b) an interest in a partnership, trust or estate to the extent attributable to of real property situated in the other Contracting State may be taxed in that other State. 2. For the purposes of this Article, Article the term "“real property situated in the other Contracting State" includes ” shall include: (a) rights to assets to be produced by the exploration or exploitation of the sea bed and sub- soil of that other State and their natural resources, including rights to interests in or the benefit of such assets; (b) where that other State is the United States, a United States real property interest interest; and (c) where that other State is the United Kingdom: (i) shares, including rights to acquire shares, other than shares in which there is regular trading on a stock exchange, deriving their value or an equivalent interest in Turkish real property, the greater part of their value directly or indirectly from real property referred to in Article 6 (Income from Immovable Property (Real Property)) which is situated in the other Contracting State and United Kingdom; and (ii) an interest in a partnershippartnership or trust to the extent that the assets of the partnership or trust consist of real property situated in the United Kingdom, trust or estate of shares referred to in paragraph 1 b)clause (i) of this sub-paragraph. 3. Gains from the alienation of movable property (other than real property) forming part of the business property of a permanent establishment which that an enterprise of a Contracting State has or had 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 such a fixed base), may be taxed in that other State, whether or not that permanent establishment exists at the time of the alienation. 4. Gains derived by an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic by the enterprise, or of containers used in international traffic, or 5. Gains from the alienation of ships, aircraft, or containers operated any property other than property referred to in international traffic, or movable property pertaining to the operation preceding paragraphs of ships, aircraft, or containers this Article shall be taxable only in the Contracting State of which the alienator is a resident. 56. Gains 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 other than that referred to in the foregoing paragraphs shall be taxable only in the State of which the alienator is resident. However, the provisions of the foregoing sentence shall not affect the right of one of the States to levy according to its own law a tax on gains derived by an individual who is a resident of the other Contracting State from the alienation of shares or bonds issued by a company which is and has been a resident of the first-mentioned Contracting State (other than shares and bonds quoted on a stock exchange of that State) if at any time during the six years immediately preceding the alienation takes place to a resident of the first-mentioned State and if the period between acquisition and alienation does not exceed one yearproperty.