S. Korea, Uruguay initial deal on double-taxation avoidance

SEOUL, Jan. 21 (Yonhap) -- South Korea and Uruguay have tentatively agreed on a
deal aimed at avoiding double taxation for the companies of their respective
nations engaged in bilateral trade, Seoul officials said Thursday.
The deal comes after their first round of talks was held in Montevideo, the
capital of the South American country between high-ranking tax policymakers from
Monday-Wednesday, according to the Ministry of Strategy and Finance.
The negotiation followed up on the promise that leaders of the two nations made
in September last year to push for a double-taxation avoidance deal.
The deal has been pushed as Uruguay has high growth potential as a lucrative
investment destination for South Korea companies down the road, the ministry
said.
South Korea's government has officially signed such deals with 79 countries,
according to the ministry.
kokobj@yna.co.kr
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