The income tax treaty between Brunei and South Korea entered into force on 14 October 2016. The treaty, signed 9 December 2014, is the first of its kind between the two countries. Taxes Covered The treaty covers Brunei income tax and petroleum income tax. It covers Korean income tax, corporation tax, special tax for rural development, and local income tax. Withholding Tax Rates Dividends - 5% if the beneficial owner is a company directly holding at least 25% of the paying company's capital; otherwise 10% Interest - 0% for interest paid in connection with the sale on credit of any...