The pending protocol to the 1994 income tax treaty between South Korea and Vietnam was signed on 27 November 2019. The protocol is the first to amend the treaty and includes the following changes:
- Article 2 (Taxes Covered) is updated to provide that the treaty covers Korea income tax, corporation tax, local income tax, and the special tax for rural development and covers Vietnamese personal income tax and business income tax (including business income tax for foreign contractors);
- It is prov…