The Colombian National Tax Authority (DIAN) has recently published a ruling on whether the Colombia-Korea income tax treaty provides any benefit in regard to net worth tax for a Korean company with branches in Colombia. According to the ruling, although the tax treaty provides certain benefits for a Korean enterprise in regard to income arising from activities in Colombia, wealth tax is not covered by the scope of the treaty as it is a tax on net worth and not a tax on income. As a result, if…