The Korea Times, reports that South Korea is planning to revise tax treaties with other countries so as to tax foreigners' capital gains from investment in Korean stocks.According to the Ministry of Finance and Economy (MOFE), Kim Yong-min, ministry director general for tax and customs, reported to the National Assembly’s Finance and Economy Committee the ministry is pursuing multiple negotiations with other countries to revise tax treaties with such an aim.
As of the end of March, Korea had tax treaties with 62 countries including the United States, Britain, Germany and France. It is now pursuing more treaties of a similar kind with 15 other countries, the ministry said.
