Chile-Korea

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Article 29TERMINATION1. This Convention shall continue in effect indefinitely but either Contracting State may, on orbefore the thirtieth day of June of any calendar year beginning after the expiration of a period of fiveyears from the date of its entry into force, give to the other Contracting State a notice of termination inwriting through diplomatic channels.2. The provisions of this Convention shall cease to have effect:(a)in Chile,in respect of taxes on income obtained and amounts paid, credited to an account, put at thedisposal or accounted as an expense, on or after the first day of January in the calendar yearnext following that in which the notice is given; and(b)in Korea:(i)(ii)in respect of taxes withheld at source, for amounts payable on or after the firstday of January in the first calendar year following that in which the notice isgiven; andin respect of other taxes, for the taxable year beginning on or after the first dayof January in the first calendar year following that in which the notice is given.IN WITNESS WHEREOF, the undersigned, duly authorised thereto, have signed this Convention.DONE in duplicate at Seoul, this 18 th ° day of April, 2002, in the Spanish, Korean, and Englishlanguages, all texts being equally authentic. In the case of divergence of interpretation, the English textshall prevail.FOR THE REPUBLIC OF CHILEFOR THE REPUBLIC OF KOREA
PROTOCOL TO THE CONVENTION BETWEENTHE REPUBLIC OF CHILEANDTHE REPUBLIC OF KOREAFOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCALEVASIONWITH RESPECT TO TAXES ON INCOME AND ON CAPITALOn signing the Convention of the avoidance of double taxation and the prevention of fiscalevasion with respect to taxes on income and on capital between the Republic of Chile and the Republicof Korea, the undersigned have agreed that the following provisions shall form an integral part of theConvention.1. Ad Article 81) For the purposes of Article 8:(a)the term “profits” includes especially:(i)(ii)gross revenues derived directly from the operation of ships or aircraft ininternational traffic, andinterest over the amounts derived directly from the operation of ships or aircraftin international traffic, only if such interest is incidental to the operation.(b)the expression “operation of ships and aircraft” by an enterprise, also includes:(i)(ii)the charter or rental on a bareboat basis of ships and aircraft;the rental of containers and related equipment,if that charter or rental is incidental to the operation by the enterprise of ships or aircraftin international traffic.2) An enterprise of a Contracting State which operates ships or aircraft in international traffic in theother Contracting State shall be exempt from the value added tax or other similar tax in that otherContracting State on transport of goods or passengers.2. Ad Article 11If in any Agreement or Convention concluded by Chile with a third State, being a member of theOrganization for Economic Cooperation and Development, Chile would agree to reduce the rate orexemption of tax provided in paragraph 2 of Article 11, such reduced rate shall automatically apply underthe same conditions as if it had been specified in this Convention.3. Ad Article 12If in any Agreement or Convention concluded by Chile with a third State, being a member of theOrganization for Economic Cooperation and Development, Chile would agree to reduce the rate orexemption of tax provided in paragraph 2 of Article 12, such reduced rate shall automatically apply under
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Chile-Korea

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