|
|
|
|
|
Newsletter | February 2016, Issue 1
|
|
|
|
|
|
|
TAX
|
|
|
|
Update on the Korea-Hong Kong Tax Treaty
|
|
|
|
The Korea-Hong Tax Treaty (“Hong Kong Treaty”) has not yet been ratified.12 As a result, the Hong Kong treaty did not enter into force in 2015. Consequently, its provisions will not have effect in 2016.
|
|
|
|
This is because the Hong Kong Treaty enters into force only on the 15th day after the ratification notices by Korea and Hong Kong are exchanged. The provisions of the Hong Kong Treaty do not have effect on Korean taxes until the calendar year following the date on which the treaty enters into force (2017 at the earliest).
|
|
|
|
|
|
|
|
|
| 12 |
|
Signed on July 8, 2014 and was expected to be ratified by Korea’s National Assembly for entry into force by the end of 2015.
|
|
|
|
|
|
Back to Main Page
|
|
|
|
|
|
If you have any questions regarding this article, please contact below:
|
|
|
|
|
|
|
|
For more information, please visit our website:
|
|
|
|
|
|
|
|