- 1
- Subject to the provisions of paragraph 2 of Article 18, pensions and other similar remuneration, as well as annuities, derived by a resident of a Contracting State shall be taxable only in that State. Any pension and other payment under the provisions of a social security system of a Contracting State (social security pension) to a resident of the other Contracting State shall be taxable only in that other State.
- 2
- Notwithstanding the provisions of paragraph 1, pensions or other similar remuneration, as well as annuities or social security pensions, including pensions and other similar remuneration referred to in paragraph 2, subparagraph b), of Article 18, arising in a Contracting State may also be taxed in that State, in accordance with the laws of that State, if the aggregate gross amount of the pensions and other similar remuneration, annuities and social security pensions, including pensions and other similar remuneration referred to in paragraph 2 of Article 18, exceeds in the fiscal year concerned the sum of 25,000 Euro.
- 3
- Notwithstanding the provisions of paragraphs 1 and 2, if the pension, other similar remuneration, annuity or social security pension is not periodic in nature, this income may also be taxed in the Contracting State in which it arises.
- 4
- A pension or other similar remuneration or annuity shall be deemed to arise in a Contracting State insofar as the contributions or payments associated with that pension or other similar remuneration or annuity, or the entitlements received from them, qualified for relief from tax in that State. The transfer of a pension, other similar remuneration or annuity from a pension fund or an insurance company in a Contracting State to a pension fund or insurance company in another State shall not restrict in any way the taxing rights of the first-mentioned State under this Article.
- 5
- For the purposes of this Article the term “annuity” means:
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- a)in the case of annuities arising in the Netherlands, an annuity as mentioned in the Netherlands Income Tax Act 2001 (“Wet inkomstenbelasting 2001”), or any subsequent identical or substantially similar laws or regulations replacing this Act, the benefits of which are part of taxable income from employment and dwellings (“belastbaar inkomen uit werk en woning”);
- b)in the case of annuities arising in Ireland, 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 where such consideration qualified for relief from tax in Ireland.
- 6
- The competent authorities of the Contracting States shall by mutual agreement settle the mode of application of paragraph 2. They shall also decide on the information to be submitted by the resident of a Contracting State for the purpose of the proper application of the Convention in the other Contracting State, in particular so that it can be established whether the condition referred to in paragraph 2 has been met.
