The National Assembly of Korea (Rep.) approved the ratification of income tax treaty with Andorra on 13 March 2025, which was signed on 3 November 2023.
The treaty will take effect once the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.
Earlier, Andorra announced its ratification of the treaty, with the notice published in the Official Gazette on 6 August 2024. The agreement aims to eliminate double taxation on income and prevent tax evasion and avoidance.
