Taxation of Property. 1. Immovable property belonging to a resident of a Contracting State and situated in the other Contracting State shall be liable to taxation only in that other State. 2. For the purposes of this Convention it is understood that immovable property is the property recognized as such under the laws of the Contracting State in the territory of which that property is situated. 3. Movable property which belongs to a resident of a Contracting State and is situated in the other Contracting State shall be liable to taxation only in the first-mentioned State.
Appears in 6 contracts
Samples: Convention for the Avoidance of Double Taxation, Convention for the Avoidance of Double Taxation, Double Tax Treaty
