UniCredit Bank Czech Republic and Slovakia,a.s.
Summary:
New Agreement for avoidance of double taxation and prevention of tax evasion between the Czech Republic and the Republic of Korea
Mon, 05/02/2018
The Ministry of Finance of the Czech Republic announced that an Agreement for avoidance of double taxation and prevention of tax evasion in the field of income tax with the Republic of Korea was signed in Seoul on 12 January 2018. Both countries will now follow their standard legislative processes, leading to entry into force and effectiveness of the new treaty. Once this takes place, the currently existing Agreement for avoidance of double taxation and prevention of tax evasion in the field of income tax, signed in Seoul on 27 April 1992 will cease to be in force and will cease to apply.
Impact on investors: One in force, the new DTT will provide eligible beneficial owners with the possibility to avail of better tax rates.