Korea

Korea has 93 tax agreements in force, as reported in its response to the Peer Review questionnaire. Four of those agreements, the agreements with the Czech Republic, Singapore, Turkmenistan*, and the United Arab Emirates comply with the minimum standard.

Korea signed the MLI in 2017 and deposited its instrument of ratification on 13 May 2020. The MLI will enter into force for Korea on 1 September 2020. Korea has not listed its agreements with Albania, Austria, Brazil, Germany, and Turkey. These agreements will therefore not, at this stage, be modified by the MLI.

Korea has also signed a bilateral complying instrument with Switzerland and Uzbekistan*.

Korea indicated in its response to the Peer Review questionnaire that bilateral negotiations would be used with respect to its agreements with Albania, Austria, Belarus*, Brazil, Ecuador*, Ethiopia*, Germany, Iran*, Kyrgyzstan*, Lao People’s Democratic Republic*, Myanmar*, Nepal*, Norway, Tajikistan*, Turkey and Venezuela*.

Korea is implementing the minimum standard through the inclusion of the preamble statement and the PPT.1

The agreements that will be modified by the MLI will come into compliance with the minimum standard once the provisions of the MLI take effect.

No jurisdiction has raised any concerns about their agreements with Korea.

Note

← 1. For its agreements listed under the MLI, Korea is implementing the preamble statement (Article 6 of the MLI) and the PPT (Article 7 of the MLI).

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