April 20, 2024
Economy
Korea, India agree to avoid double taxation
[THE INVESTOR] Korea’s top tax official and his Indian counterpart agreed to avoid double taxation between the two countries, the government said on April 26.
National Tax Service chief Lim Hwan-soo and India’s Revenue Secretary Hasmukh Adhia also agreed to create stable tax conditions for investments during their meeting in Seoul, according to the NTS.
The bilateral double taxation avoidance pact was reached in September last year, creating a mutual foundation to address double taxation issues facing Korean firms doing business on the subcontinent.
India is home to more than 860 Korean companies.
By Alex Lee and newswires (alexlee@heraldcorp.com)
National Tax Service chief Lim Hwan-soo and India’s Revenue Secretary Hasmukh Adhia also agreed to create stable tax conditions for investments during their meeting in Seoul, according to the NTS.
The bilateral double taxation avoidance pact was reached in September last year, creating a mutual foundation to address double taxation issues facing Korean firms doing business on the subcontinent.
India is home to more than 860 Korean companies.
By Alex Lee and newswires (alexlee@heraldcorp.com)
