S. Korea, Colombia to hold talks on double taxation avoidance

SEOUL, July 5 (Yonhap) -- South Korea and Colombia will start negotiations for an
agreement on the avoidance of double taxation in Bogota Monday through Friday,
Seoul's finance ministry said Sunday.
Officials from the two countries will discuss such issues as rules for
determining so-called permanent establishments, tax jurisdiction over capital
gains earned by oligopolistic shareholders and tax rates for investment income,
it said.
"Colombia is a resource-rich country with great potential for South Korean
companies seeking to tap the market," a ministry official said. "We will try to
forge a deal from the standpoint of an investor country."
The planned tax talks follow a November summit meeting, during which the leaders
of the two countries agreed to strike a bilateral tax treaty, the ministry said.
(END)