background image
CHAPTER I - GENERAL PROVISIONS
CHAPTER II - TAXATION OF INCOME AND CAPITAL
CHAPTER III - TAXATION OF ESTATES, INHERITANCE AND GIFTS
CHAPTER IV - ASSISTANCE IN TAX MATTERS
CHAPTER V - PROTECTION OF THE TAXPAYER AND MUTUAL AGREEMENT
CHAPTER VI - SPECIAL PROVISIONS
CHAPTER VII - FINAL PROVISIONS
Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

ARTICLE 22

Capital

(1) Capital represented by immovable property, owned by a resident of a Contracting State and situated in the other Contracting State, may be taxed in that other State.

(2) Capital represented by 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 by 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, may be taxed in that other State.

(3) Capital represented by ships, aircraft and containers operated by an enterprise of a Contracting State in international traffic and by movable property pertaining to the operation of such ships, aircraft or containers, shall be taxable only in that Contracting State.

(4) All other elements of capital of a resident of a Contracting State shall be taxable only in that State.