The income tax treaty between Serbia and South Korea was signed on 22 January 2016. The treaty is the first of its kind between the two countries. Taxes Covered The treaty covers Serbian personal income tax and corporate 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 - 10% Royalties - 5% for the use of, or the right to use, any copyright of literary,...