South Korea's Ministry of Finance has announced the signing on 27 November 2019 of an amending protocol to the 1994 income tax treaty with Vietnam. The protocol is the first to amend the treaty and includes, among other changes:
- A reduction in the general withholding tax rate on royalties from 15% to 10% (the 5% rate for certain royalty types including patents, know-how, and equipment usage rights is maintained);
- The introduction of a 7.5% withholding tax rate on technical, management, and …