Singapore legislation

Clause 7

Amendment of section 105M

Section 105M of the principal Act is amended by inserting, immediately after subsection (3), the following subsections:“(3A) Where —

(a)

a person (X), in order to comply with a regulation mentioned in section 105P(2)(c), requests another person (Y) to provide any information contemplated by an agreement mentioned in section 105P(1) to establish Y’s residence for a tax purpose contemplated by that agreement; and

(b)

Y, in purported compliance with that request, provides any such information to X which Y knows is false or misleading in any material particular,Y shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.(3B) Where —

(a)

X, in order to comply with a regulation mentioned in section 105P(2)(c), requests Y to provide any information contemplated by an agreement mentioned in section 105P(1) to establish another person’s (Z) residence for a tax purpose contemplated by that agreement; and

(b)

Z provides any such information, whether directly or indirectly, to X or Y which Z knows is false or misleading in any material particular,Z shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.”.

Read in full context — Income Tax (Amendment No. 2) Bill →