The Inland Revenue Authority of Singapore has announced the signing of a new income tax treaty with South Korea on 13 May 2019. Once in force and effective, the new treaty will replace the 1979 tax treaty between the two countries.
Taxes Covered
The treaty covers Korean income tax, corporation tax, the special tax for rural development, and local income tax. It covers Singapore income tax.
Withholding Tax Rates
- Dividends - 10% if the beneficial owner is a company that directly holds at…