Protocol to Tax Treaty between South Korea and Switzerland has Entered into Force

The amending protocol to the 1980 income tax treaty between South Korea and Switzerland entered into force on 28 October 2020. The protocol, signed 17 Mary 2019, is the second to amend the treaty and makes the following changes:

• The preamble is replaced in line with BEPS standards;
• Article 24 (Mutual Agreement Procedure) is amended to provide that a person may present a MAP case to the competent authority of either Contracting State, instead of just the competent authority of the Contracting…