Back to all discussions

  •   over 11 years ago

Application for Entitlement to Reduced Tax Rate

Hi,

Should i fill the document "Application for Entitlement to Reduced Tax Rate " ONLY if i am live and work at Korea? please help.

regards.

  • 2 comments

  •   •   over 11 years ago

    *******
    Disclaimer: I'm not a lawyer or accountant, and this is not legal or accounting advice.
    *******

    I think that you must send them the document especially if you live and work in Egypt. (if you lived and worked in Korea you would probably be taxed differently since you would not be a non-resident anymore)

    Unfortunately, I think that the Korean - Egyptian tax treaty is one of those that do not exempt the taxation of other income for residents of other country (article 22), so Samsung must withhold the tax on your prize and for that they probably need that document (I suppose so they can properly remit the withheld tax to Korean tax authorities).

    However, read also the article 23, paragraph 3 of the Korean - Egyptian tax treaty about the relief of double taxation. It might be possible that you will be able to get that tax deducted from your local taxes, of course, if there are any taxation of prizes in Egypt in the first place.

    Korean tax treaties are here:
    http://www.nts.go.kr/eng/resources/resour_02.asp?minfoKey=MINF7620080220173406

    Anyway, all of this can be pretty complicated so I guess you might need to talk with some lawyer who knows this stuff, if you also must pay some taxes on prizes in Egypt...

  •   •   over 11 years ago

    What is the tax rate % to enter for USA?

Comments are closed.