(1) Capital gains from the alienation of immovable property, as
defined in paragraph (2) of Article 7, may be taxed in the
Contracting State in which such property is situated.
(2) Capital gains from the alienation of shares in a company
incorporated in a Contracting State whose assets consist wholly or
mainly of immovable property as defined in paragraph (2) of Article
7 which is situated in that Contracting State may be taxed in that
State.
(3) Capital 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 professional
services, including such gains from the alienation of such
permanent establishment (alone or together with the whole
enterprise) or of such a fixed base, may be taxed in the other
State.
(4) Notwithstanding the provisions of paragraph (3) of this
Article capital gains derived by a resident of a Contracting State
from the alienation of ships and aircraft operated in international
traffic and movable property pertaining to the operation of such
ships and aircraft shall be taxable only in the Contracting State.
(5) Capital gains from the alienation of any property other
than those mentioned in paragraphs (1), (2) and (3) of this Article
shall be taxable only in the Contracting State of which the
alienator is a resident.
(6) The provisions of paragraph (5) of this Article shall
not affect the right of a Contracting State to levy according to
its own law a tax on capital gains from the alienation of any
property derived by a person who is a resident of the other
Contracting State and has been a resident of the first-mentioned
Contracting State at any time during the five years immediately
preceding the alienation of the property.
