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Latest Treaty Updates: Korea, South

Korea, South - Vietnam


South Korea and Vietnam on March 25 agreed to work towards amending their DTA.

Korea, South - Brazil


South Korea's Ministry of Foreign Affairs said on that it had exchanged notes ratifying a Protocol to its DTA with Brazil on January 10, 2018, bringing the deal into force. Korea published a notice in its Official Gazette on February 7, 2018.

Czech Republic - Korea, South


According to preliminary media reports, on January 12, 2018, the Czech Republic and South Korea signed a DTA to replace their existing pact.

Hong Kong - Korea, South


According to a January 24, 2017, announcement from the Hong Kong Government, the territory has signed a TIEA covering financial account information with South Korea.

India - Korea, South


The India-South Korea DTA will apply from April 1, 2017.

India - Korea, South


The India-South Korea DTA will become effective from January 1, 2017.

Korea, South - Singapore


On October 14 South Korea signed an automatic tax information exchange deal with Singapore.

Korea, South - Hong Kong

The comprehensive double taxation agreement between Hong Kong and South Korea, which was signed on July 8, 2014, went into effect on September 27, 2016.

Mauritius - Korea, South


The Mauritian Government has announced that, on August 11, a tax information exchange agreement was signed with South Korea.

Korea, South - Georgia


South Korea and Georgia signed a DTA on March 31, 2016.

Nigeria - Korea, South


The speaker of Nigeria's House of Representatives has said to South Korea that the nation's lawmakers will swiftly adopt the DTA, following delays in the lower house.

Guernsey - Korea, South


Guernsey and South Korea signed a TIEA on September 23, 2015.

Turkmenistan - Korea, South


According to preliminary reports, Turkmenistan's Parliament has approved legislation to ratify the DTA signed with South Korea.

Jersey - Korea, South


Legislation was tabled before Jersey's parliament on August 12, 2015, to ratify the DTA with South Korea.

Jersey - Korea, South


Jersey and South Korea signed a TIEA on July 21, 2015.

Barbados - Korea, South


During a recent meeting by the Korean Ambassador-Designate to Barbados, Doo-Young Lee, Barbados expressed an interest in launching DTA negotiations with South Korea.

India - Korea, South


India's Cabinet on May 6, 2015, approved the pending DTA with South Korea.

Brazil - Korea, South


Brazil and South Korea signed a DTA Protocol on April 24, 2015.

British Virgin Islands - Korea, South


The British Virgin Islands signed a TIEA with the Republic of Korea on December 5, 2014.

Korea, South - Brunei


The Republic of Korea signed a DTA with Brunei on December 9, 2014.

Italy - Korea, South


Italy's ratification of its protocol with the Republic of Korea was published in the official gazette on October 29, 2014.

Andorra - Korea, South


Andorra signed a TIEA with the Republic of Korea on October 23, 2014.

Hong Kong - Korea, South


Hong Kong and South Korea signed a DTA on July 8, 2014.

Peru - Korea, South


According to preliminary media reports, Peru completed its domestic ratification procedures on February 27, 2014, in respect of the DTA the nation signed with South Korea.

India - Korea, South


India and South Korea concluded negotiations towards a revised DTA on January 16, 2014.

Kyrgyzstan - Korea, South


Kyrgyzstan's Foreign Affairs Committee on October 28, 2013, endorsed a law that would ratify the DTA signed with South Korea.

Poland - Korea, South


According to preliminary media reports, Poland and South Korea signed a DTA Protocol on October 22, 2013.

Korea, South - Hong Kong


The South Korean Government announced on September 16, 2013, that it had initialled a draft TIEA with Hong Kong during the third round of negotiations.

Ecuador - Korea, South


According to preliminary media reports, Ecuador's parliament on September 5, 2013, approved a law that would ratify the pending DTA signed with South Korea.

Bahamas - Korea, South


The TIEA signed between South Korea and the Bahamas entered into force on July 15, 2013.

Tajikistan - Korea, South


According to preliminary media reports, Tajikistan and South Korea signed a DTA on July 31, 2013.

Gabon - Korea, South


According to preliminary media reports, the DTA signed between Gabon and South Korea on October 25, 2010, was approved by Gabon's Council of Ministers on July 5, 2013, as part of the nation's domestic ratification procedures.

Czech Republic - Korea, South


According to preliminary media reports, the Czech Republic and South Korea are to hold four-day negotiations towards a DTA, concluding on June 13, 2013.

Korea, South - Various


The Government of South Korea has forwarded two Tax Information Exchange Agreements signed with Vanuatu, and the Bahamas to the country's National Assembly for its approval.

Korea, South - Colombia


A bill to ratify the pending South Korea-Colombia DTA was tabled before Colombia's House of Representatives on April 30, 2013, for its approval.

Korea, South - Paraguay


According to preliminary media reports, Paraguay and South Korea held a second round of DTA negotiations on March 20, 2013.

Korea, South - Kyrgyzstan


South Korea and Kyrgyzstan concluded two-day negotiations on December 12, 2012, towards the negotiation of a DTA.

Korea, South - Serbia


According to prelimiary media reports, Serbia and South Korea initialled a DTA on December 5.

Korea, South - India


South Korea and India discussed opening negotiations towards a Protocol to revise their DTA on November 2, 2012.

Bahrain - Korea, South


According to Bahrain's state news agency, South Korea and Bahrain signed a DTA on September 3, 2012.

Korea, South - Switzerland


The South Korean Ministry of Finance on July 12, 2012, that the TIEA signed between Switzerland and South Korea has been ratified and will become effective on July 25, 2012.

Korea, South - Kyrgyzstan


At a meeting on June 15, 2012, representatives from South Korea and Kyrgyzstan agreed to soon sign a draft DTA approved in 2010.

Bahrain - Korea, South


According to the Bahrain's News Agency, on June 10, 2012, the Cabinet endorsed the draft law on the DTA signed between Bahrain and South Korea.

Luxembourg - Korea, South


According to preliminary media reports, South Korea and Luxembourg signed a Protocol to amend their bilateral DTA on May 29, 2012.

Korea, South - Peru


Peru and South Korea signed a DTA on May 11, 2012.

Korea, South - Poland


Korea's Ministry of Finance announced on May 11, 2012, that Poland and South Korea had held their first round of negotiations towards revising the 1992 DTA.

Korea, South - Andorra


According to preliminary media reports, South Korea and Andorra initialled a TIEA in April 30, 2012.

Bahrain - Korea, South


Bahrain and South Korea signed a DTA on May 2, 2012.

Panama - Korea, South


According to South Korea's National Tax Service, the DTA between Panama and South Korea entered into force on April 1, 2012.

Korea, South - Italy


South Korea and Italy signed a Protocol to their existing DTA, including to add tax information exchange provisions, at a meeting on April 3, 2012.

Korea, South - Vanuatu


According to the South Korean Foreign Ministry, South Korea and Vanuatu signed a TIEA on March 14, 2012.

Indonesia - Korea, South


According to preliminary media reports, South Korea and Indonesia have agreed to commence negotiations towards revising their existing DTA, including to add tax information exchange provisions.

Uruguay - Korea, South


According to the office of the Uruguayan President, a DTA between Uruguay and South Korea was signed on November 29, 2011.

Korea, South - Ecuador


According to the South Korean Ministry of Finance, a DTA between Ecuador and South Korea was signed on August 25.

Korea, South - Bahamas


The Bahamas and South Korea signed a TIEA on August 4, 2011, the government of the Bahamas has announced.

Korea, South - India


A statement from the office of South Korean President, Lee Myung-bak, has said that India and South Korea have agreed to begin negotiating an agreement for the avoidance of double taxation.

Korea, South - Peru


According to the South Korean Ministry of Finance, an agreement for the avoidance of double taxation was initialled between Korea and Peru on July 7, 2011.

Peru - Korea, South


According to preliminary media reports, Peru and South Korea will hold a second round of talks on a DTA from July 5-7.

Ecuador - Korea, South


The Ecuadorian Foreign Ministry announced on June 3 that the first round of negotiations had commenced. They were held from June 3 to June 7.

Treaty Updates by Territory

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Mexico Praised For Tax Transparency

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OECD Releases New Peer Review Reports

On August 4, 2014, the Organization for Economic Cooperation and Development's Global Forum on Transparency and Exchange of Information for Tax Purpose published peer review reports and compliance ratings for a new batch of jurisdictions.

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Andorra's Marti Rules Out Taxes On Wealth And Inheritances

Andorran Prime Minister Antoni Marti has made clear that the Government has no plans to introduce a tax on wealth or inheritances.

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Hollande Praises Andorran Tax And Economic Reforms

French President and Co-Prince of Andorra François Hollande praised the Andorran Government's decision to open up the nation's economy and reform the tax system in the wake of the financial crisis during a recent visit to the Principality.

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Andorra Credit Outlook Negative Despite Fiscal Reforms

Despite an ongoing reform of the Andorran tax structure and efforts to diversify the economy, international ratings agency Standard and Poor's has attached a negative outlook to Andorra's A-/A-2 long- and short-term sovereign credit ratings.

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Switzerland Revives DTA With Argentina

Switzerland and Argentina have recently signed a new agreement for the avoidance of double taxation with respect to taxes on income and on capital.

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Andorra Firms Up IRPF Income Tax Plans

Andorran Finance Minister Jordi Cinca has provided further clarification on provisions contained in the Government's bill, providing for the introduction of a tax on individual income in Andorra.

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Andorra, EU Initiate Savings Tax Talks

Andorran Prime Minister Antoni Marti has held talks with European Tax Commissioner Algirdas Šemeta, with the discussions focusing on the adopted mandate of the European Council of Ministers regarding negotiations with third countries on extending the savings tax directive, to close loopholes.

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Andorra Seeks More DTAs

In addition to ongoing negotiations with France, Andorra has opened negotiations with Belgium and Switzerland towards double tax agreements.

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France, Andorra May Reach Comprehensive DTA

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Colombia, Portugal Sign DTA

A double taxation agreement signed between Colombia and Portugal adds to those already concluded by Colombia with Spain, Switzerland, Chile, Canada, Mexico and South Korea.

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NZ Emissions 'Tax' Attacked

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Hong Kong Property Taxes Reviewed

Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget speech at the Joint Business Community Luncheon on March 12 and, in particular, reviewed the tax measures taken to increase the transaction cost of property speculation so as to reduce the risk of a property bubble being created.

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Malaysia Not Cancelling GST

After a government meeting, Malaysia’s Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah, has rejected any suggestion that the proposed introduction of a goods and services tax has been cancelled.

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Australia Promised Full Debate On Tax Review

Following indications that the Australian government was thinking of a delay to the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed that it will be issued in good time for a full debate on any proposed tax changes.

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Orascom Loses Algerian Tax Appeal

Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary, Orascom Telecom Algérie, has received a rejection to its appeal, made in December last year, against the notice for taxes and penalties it had received from the Algerian tax authorities the month previously.

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Switzerland, Slovakia Initial Revised DTA

It has recently emerged that Switzerland and Slovakia have initialled a revised bilateral double taxation agreement, containing the Organization for Economic Cooperation and Development’s standard on tax information exchange.

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UK Budget To Hit The Rich

Wealthy individuals may have less than two weeks to put plans in place to reduce the tax impact of the Chancellor’s pre-election Budget, warns PKF Accountants and business advisers.

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IRS Offers Help To Struggling Taxpayers

The US Internal Revenue Service has announced several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems.

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Baucus Seeks Trade Preference Reform

Senate Finance Committee Chairman Max Baucus is leading efforts for reform of US trade preference programs accorded to developing countries.

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OECD Urges Fiscal Policy Shift

Governments must now gear their economies towards jobs, international competitiveness and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for Growth’ report, analyzing the next step for recovering economies.

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BVI To Review Taxes And Fees

British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.

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Jersey Riding Out Onshore Storm

Jersey will overcome the evolving challenges being faced by offshore international financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants at a Breakfast Briefing in London.

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Germany Approves Liechtenstein TIEA

Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein.

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