LAW OF THE REPUBLIC OF BELARUS

of December 30, 2006 No. 196-Z

About ratification of the Agreement between the Government of the Republic of Belarus and the Government of Democratic People's Republic of Korea about avoidance of double taxation concerning taxes on the income and property

Accepted by the House of Representatives on December 6, 2006

Approved by Council of the Republic on December 14, 2006

Ratify the Agreement between the Government of the Republic of Belarus and the Government of Democratic People's Republic of Korea on avoidance of double taxation concerning taxes on the income and the property signed in Minsk on June 30, 2006.

AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF BELARUS AND GOVERNMENT OF DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA

of June 30, 2006

About avoidance of double taxation concerning taxes on the income and property

Government of the Republic of Belarus and Government of Democratic People's Republic of Korea,

wishing to sign the Agreement on avoidance of double taxation concerning taxes on the income and property and for the purpose of encouragement of economic cooperation between two countries,

agreed as follows:

Article 1. Persons to whom the Agreement is applied

This agreement is applied to persons which are residents of one or both Contracting States.

Article 2. Taxes to which the Agreement extends

1. This agreement is applied to the taxes on the income and property levied on behalf of the Contracting State irrespective of method of their collection.

2. All taxes levied from the total amount of the income, total amount of property or from elements of the income or property including taxes on the income from alienation of personal or real estate, taxes on the total amount of the salary, and also the property increment value duties are considered as taxes on the income and property.

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