OrbitaxUAE Cabinet Approves Pending Protocol to Tax Treaty with South Korea
|Treaty Development|Untd A Emirates-Korea, Rep of
On 9 June 2019, the United Arab Emirates Cabinet approved the pending protocol to the 2003 income tax treaty with South Korea. The protocol, signed 27 February 2019, is the first to amend the treaty and includes:
- The introduction of a 10% withholding tax rate on royalty income;
- Provisions for the taxation of gains from the alienation of shares where the alienator owns more than 25% of the issu…
