S. Korea, Libya agree on double-taxation avoidance deal

SEOUL, Aug. 17 (Yonhap) -- South Korea and Libya have signed a preliminary
agreement on avoiding double taxation in a move expected to bolster bilateral
economic and personal exchanges, Seoul officials said Monday.
The pact was signed between officials of the two nations after a five-day meeting
that ended in Seoul on Friday, according to the Ministry of Strategy and Finance.
The ministry said that it will be officially signed within months before being
approved by parliaments of each nation.
The pact is expected to help reduce the tax burden on South Korean businesses
seeking to invest in the resource-rich country. South Korea now has such
double-taxation avoidance agreements with 81 countries, the ministry said.
kokobj@yna.co.kr
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