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Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

ARTICLE 30

Termination

(1) This Agreement shall remain in force indefinitely unless terminated by a Contracting State. After the period of five years from the date on which the Agreement enters into force, either Contracting State may terminate the Agreement, through diplomatic channels, by giving a written notice of termination at least six months before the end of any calendar year.

(2) In such event, the Agreement shall cease to have effect as follows:

  • (a) in respect of taxes withheld at the source: the Agreement shall cease to have effect in respect of the amounts paid or credited to the account on or after 1 January of the calendar year following the year in which the notice of termination has been given;
  • (b) in respect of other taxes on income and on capital: the Agreement shall cease to have effect in respect of other income and capital realized during the fiscal periods beginning on or after 1 January in the calendar year following the year in which the notice of termination has been given.

IN WITNESS WHEREOF, the undersigned, duly authorized thereto by their respective governments, have signed this Agreement.

DONE in duplicate at Damascus on the 21 February, 2000 in the Arabic, Korean and English Languages, all texts being equally authentic. In case of any divergence, the English text shall prevail.

FOR THE GOVERNMENT OF THE SYRIAN ARAB REPUBLIC:

M. KHALED AL-MAHAYNI

MINISTER OF FINANCE

FOR THE GOVERNMENT OF THE DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA:

RIM KYONG SUK

MINISTER OF FINANCE