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ARTICLE 18
Pensions and Annuities
(1) Pensions, other similar remuneration and annuities arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in the first-mentioned State.
(2) As used in this Article:
- (a) the term "pensions and other similar remuneration" means periodic payments made in consideration of past employment or by way of compensation for injuries received in connection with past employment;
- (b) The term "annuities" means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time, under an obligation to make the payments in return for adequate and full consideration in money or money's worth.