Protocol to the Tax Treaty between Brazil and South Korea Signed

On 24 April 2015, officials from Brazil and South Korea signed a protocol amending the 1989 income tax treaty between the two countries. The protocol amends Article 26 (Exchange of Information), bringing it in line with the OECD standard for information exchange.

The protocol is the first to amend the treaty, and will enter into force after the ratification instruments are exchanged.