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What is the interest withholding rate between Australia and South Korea?
Under the Australia-South Korea tax treaty, the withholding rate on interest is 15%. Certain types of interest (such as government bonds) may qualify for additional exemptions under specific treaty articles. This 15% rate compares to a median of 10% across Australia's 48 active treaty partners, and 10% across South Korea's 48 active partners.
Network Comparison
Australia
Rank 46 of 48 active treaties (lowest rate = #1)
Lower rates with: Brazil (15%), Egypt (15%), India (15%)
Higher rates with: Malaysia (15%), Philippines (15%)
South Korea
Rank 47 of 48 active treaties (lowest rate = #1)
Lower rates with: Vietnam (10%), South Africa (10%), United States (12%)
Higher rates with: Portugal (15%)
Important: Treaty rates require proper claim forms (e.g., IRS Form W-8BEN for U.S. treaties, HMRC DT-Individual for U.K. treaties, CRA Form NR301 for Canadian treaties) filed before payment. Limitation on Benefits (LOB) provisions may restrict eligibility. A 0% withholding rate does not mean no tax — the residence country may still tax the income. This is not tax advice.