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Korea Ratifies Pending Tax Treaties with Multiple Countries

28 September 2016

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Treaty Development

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Korea, Rep of-Brunei-Hong Kong-India-Kenya-Tajikistan-Turkmenistan

On 7 September 2016, the Korean National Assembly ratified the following pending tax treaties: The income tax treaty with Brunei, signed 9 December 2014; The income tax treaty with Hong Kong, signed 8 July 2014; The new income tax treaty with India, signed 18 May 2015 (will replace the 1985 tax treaty currently in force; The income tax treaty with Kenya, signed 8 July 2014; The income tax treaty with Tajikistan, signed 31 July 2013; and The income tax treaty with Turkmenistan, signed 13 April 2015. Each of the treaties will enter into force after the ratification instruments are exchanged,...