[SOUTH KOREA] (1) Hong Kong Tax Treaty, and (2) Amendment to the Korea–India Tax Treaty

Much earlier than expected, on September 12, 2016, the Korean government notified the Hong Kong government of the Korean National Assembly’s ratification of the Korea–Hong Kong Tax Treaty (“Treaty”). On September 27, 2016, the Treaty entered into force.   

In Korea, the provisions of the Treaty will have effect on: (i) taxes withheld at the source, for amounts payable beginning on or after April 1, 2017; and (ii) other taxes, for any taxable year beginning on or after January 1, 2017.   

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