Singapore legislation

Clause 42

Amendment of section 105K

Section 105K of the principal Act is amended —

(a)

by deleting paragraphs (aa) and (ab) of subsection (1) and substituting the following paragraphs:“(aa)a competent authority agreement between —

(i)

the Government and —

(A)

the government of another country; or

(B)

the governments of 2 or more countries; or

(ii)

the Minister or the Minister’s authorised representative and —

(A)

the authority of another country that exercises a power or carries out a duty corresponding to a power or duty of the Minister or representative; or

(B)

the authorities of 2 or more countries that exercise powers or carry out duties corresponding to a power or duty of the Minister or representative;

(ab)a CbCR exchange agreement between —

(i)

the Government and —

(A)

the government of another country; or

(B)

the governments of 2 or more countries; or

(ii)

the Minister or the Minister’s authorised representative and —

(A)

the authority of another country that exercises a power or carries out a duty corresponding to a power or duty of the Minister or representative; or

(B)

the authorities of 2 or more countries that exercise powers or carry out duties corresponding to a power or duty of the Minister or representative;”;

(b)

by deleting paragraph (c) of subsection (1) and substituting the following paragraph:“(c)any other agreement or arrangement that makes provision corresponding, or substantially similar, to that made by an agreement in paragraph (a), (aa), (ab) or (b), between —

(i)

the Government and —

(A)

the government of another country; or

(B)

the governments of 2 or more countries; or

(ii)

the Minister or the Minister’s authorised representative and —

(A)

the authority of another country that exercises a power or carries out a duty corresponding to a power or duty of the Minister or representative; or

(B)

the authorities of 2 or more countries that exercise powers or carry out duties corresponding to a power or duty of the Minister or representative.”; and

(c)

by inserting, immediately after the word “Singapore” in subsection (2), the words “or, where there is more than one agreement or arrangement under the order, may only take effect in relation to each agreement or arrangement on or after the date on which that agreement or arrangement enters into force for Singapore”.

Read in full context — Income Tax (Amendment) Bill →