South Korea's Ministry of Foreign Affairs has announced the entry into force of the income tax treaty with Andorra on 1 April 2025. The treaty, signed 3 November 2023, is the first of its kind between the two countries. Taxes Covered The treaty covers Andorran corporate income tax, personal income tax, tax on income of non-residents, and capital gains tax on property transfers. It covers Korean income tax, corporation tax, the special tax for rural development, and local income tax. Residence If a person other than an individual is considered resident in both Contracting States, the competent authorities of the...