DT2860.18 - DT: Azerbaijan: double taxation agreement, SI95 No 762, Article 18: Pensions

1) Subject to the provisions of paragraph (2) of Article 19 of this Convention, pensions and other similar remuneration paid in consideration of past employment to a resident of a Contracting State and any annuity paid to such a resident shall be taxable only in that State where such pensions and other similar remuneration, and any such annuity, are subject to tax in that State.

2) The term `annuity` means a stated sum payable to an individual periodically at stated times during his 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.