The amending protocol to the 1985 income and capital tax treaty between Austria and South Korea is entering into force on 1 March 2023. The protocol, signed 14 June 2021, is the second to amend the treaty and includes the following changes: The preamble is updated in line with BEPS standards; Article 5 (Permanent Establishment) is updated in line with BEPS standards with regard to the exclusion of certain fixed places of business from resulting in a permanent establishment if the overall activity of the fixed place of business is of a preparatory or auxiliary character, as well as new...