THE CONVENTION BETWEEN THE GOVERNMENT OF THE RUSSIAN FEDERATION AND THE GOVERNMENT OF THE REPUBLIC OF KOREA

of November 19, 1992

About avoidance of double taxation concerning taxes on the income

The government of the Russian Federation and the Government of the Republic of Korea, being guided by the aspiration to develop and strengthen economic, scientific, technical and cultural cooperation between both States, and for the purpose of avoidance of double taxation concerning taxes on the income, agreed as follows.

Article 1. Persons to whom the Convention is applied

This Convention is applied to persons who are persons with the permanent residence in one or in both Contracting States.

Article 2. Taxes to which the Convention extends

1. This Convention extends to the taxes on the income or part of total income levied according to the legislation of each of Contracting States irrespective of method of their collection.

2. Taxes to which this Convention extends are:

a) in relation to the Russian Federation - the income taxes and the income levied according to the Laws of the Russian Federation "About the income tax of the companies and organizations", "About the taxation of the income of banks", "About the taxation of the income from insurance activity" and "About the income tax from physical persons" (the "Russian taxes" which are referred to as further);

b) in relation to the Republic of Korea - the income tax, tax on the corporations and tax on residents levied according to the laws of the Republic of Korea (the "Korean taxes" which are referred to as further).

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