Clause 44

by inserting, immediately after subsection (4) of section 6, the following subsection:“(4AA) Subsection (4) also applies to an agreement or arrangement to which Part XXB applies between the Minister or the Minister’s authorised representative and the authority of another country that exercises powers or carries out duties corresponding to a power or duty of the Minister or representative, as if —

a reference to the Government of Singapore is a reference to the Minister or the Minister’s authorised representative; and (b)a reference to the government of another country is a reference to that authority of the other country.”;

by deleting the word “offshore” in the following provisions:

paragraph (b) of the definition of “concessionary rate of tax” in section 14D(5);

paragraph (b) of the definition of “higher rate of tax” or “lower rate of tax” in section 37B(7); and

by deleting paragraphs (a) and (b) of section 105P(1A) and substituting the following paragraphs:“(a)the Government or the Minister or the Minister’s authorised representative does not have a CbCR exchange agreement with the government or an authority of that country; or

the Government or the Minister or the Minister’s authorised representative has a CbCR exchange agreement with the government or an authority of that country, but the Minister is of the opinion that the agreement is not operating effectively.”.