According to an update on the Hong Kong Department of Justice site, the income tax treaty with South Korea entered into force on 27 September 2016. The treaty, signed 8 July 2014, is the first of its kind between the two jurisdictions. Taxes Covered The treaty covers Hong Kong profits tax, salaries tax, and property tax. It covers Korean income tax, corporation tax, the special tax for rural development, and local income tax. Residence If a company is considered resident in both Contracting Parties, it will be deemed to be a resident only of the Party in which its place...