A new income tax treaty between the Czech Republic and South Korea entered into force at the end of 2019, thus replacing the prior treaty (1992).
Regarding income taxes, the new treaty generally is effective with regard to tax periods beginning on or after 1 January 2020.
Concerning tax withheld at source, the new income tax treaty is effective with respect to income paid or credited as of 1 January 2020—hence, requiring changes to the systems of withholding agents. The new withholding tax measures under the tax treaty include rules for:
Read a January 2020 report prepared by the KPMG member firm in the Czech Republic
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