The income tax treaty between Brunei and South Korea entered into force on 14 October 2016. The treaty, signed 9 December 2014, is the first of its kind between the two countries.
Taxes Covered
The treaty covers Brunei income tax and petroleum income tax. It covers Korean income tax, corporation tax, special tax for rural development, and local income tax.
Withholding Tax Rates
- Dividends - 5% if the beneficial owner is a company directly holding at least 25% of the paying company's capi…