The new income tax treaty between South Korea and Turkey entered into force on 21 July 2024. The treaty, signed 22 October 2021, replaces the 1983 income tax treaty between the two countries. Taxes Covered The treaty covers Korean income tax, corporation tax, the special tax for rural development, and local income tax. It covers Turkish income tax and corporate tax. Residence If a person other than an individual is considered resident in both Contracting States, the competent authorities will determine its residence for the purpose of the treaty through mutual agreement. If no agreement is reached, such person will...