Colombia Ratifies Tax Treaty with South Korea

Colombia's Constitutional Court has ratified the tax treaty signed with South Korea (Republic of Korea). The treaty was signed July 27th, 2010 and includes the following withholding rates:

• Dividends - 5% if the beneficial owner is a company (other than a partnership) that holds at least 20% of the paying company's capital, otherwise 10%
• Interest - 10%
• Royalties - 10% (Includes royalty payments for technical assistance , technical services and consulting services)

Capital Gains

The treaty…