ARTICLE 13

Gains

1. Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 (Income from Immovable (Real) Property) and situated in the other Contracting State may be taxed in that other State.

2. For the purposes of this Article, the term “immovable” property situated in the other Contracting State shall include

a) immovable property referred to in Article 6 ( Income from Immovable (Real) Property); and

b) shares or comparable interests in a company that is, or is treated as, a resident of that other Contracting State, the assets of which company consist or consisted wholly or principally of immovable property situated in such other Contracting State, and an interest in a partnership, trust, or estate, to the extent that its assets consist of immovable property situated in that other Contracting State,

3. Gains from the alienation of immovable property forming part of the business property of a permanent establishment that an enterprise of a Contracting State has in the other Contracting State or of immovable 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, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise) or of such fixed base, may be taxed in that other State.

4. Gains from the alienation of ships, aircraft or containers operated in international traffic or movable property pertaining to the operation of such ships, aircraft, or containers shall be taxable only in

the Contacting State in which the profits of the enterprise deriving such income are taxable according to Article 8 (Shipping and Air Transport).

5. Gains from the alienation of any property other than that referred to in the preceding paragraphs shall be taxable only in the Contracting State of which the alienator is a resident.

6. In the case of an individual who was a resident of a Contacting State and who, after giving up residence in that State, has become a resident of the other Contracting State under the rules of Article 4 (Residence), paragraph 5 shall not affect the right of the first-mentioned State under its national laws to tax the individual in respect of a capital gain from the alienation of shares of any kind forming part of an interest of at least 25 percent in a company that is a resident of the first-mentioned State, provided such alienation occurs within 10 years of the date on which he gave up residence in the first-mentioned State. Gains subject to tax pursuant to the preceding sentence shall be limited to gains accrued during the period the individual was resident in the first-mentioned State. The other Contracting State shall calculate the gain in the case of a subsequent alienation on the basis of the value of such shares on the date on which the individual has ceased to be a resident of the first-mentioned State but shall not be prevented from including in income any gain accrued up to this date which has not been subject to tax in that first-mentioned State.