The new income tax treaty between Korea (Rep.) and Thailand, signed on 16 November 2006, entered into force on 29 June 2007 and applies from 1 January 2008, replacing the previous income tax treaty of 26 August 1974. The tax treaty was concluded in Korean, Thai and English languages, each text having equal authenticity. In case of divergence, however, the English text prevails. The treaty generally follows the OECD Model Convention (2005). The maximum rates of withholding tax are: -   10% on dividends; -   15% on interest in general, and 10% on interest beneficially owned by a financial...