• Switzerland - South Korea
    Provisions of Amending Protocol Come Into Effect

    04-01-2013

    The provisions of the amending Protocol of the tax treaty between South Korea and Switzerland came into effect on 1 January 2013.

    As per the amending Protocol the following withholding taxes will be amended:

    • Dividends:
      • 5% on dividends if the beneficial owner is a company which holds directly at least 10% of the capital of the company paying the dividends.
      • 15% in all other cases.

    • Interest:
      • 5% if the interest is paid to a bank.
      • 10% in all other cases.

    • Royalties: 5% withholding tax on royalties.
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