Singapore legislation

Clause 46

Amendment of section 74

Section 74 of the principal Act is amended —

(a)

by deleting the words “arising out of the application” in subsection (2A) and substituting the words “or doubts arising out of the interpretation or application”; and

(b)

by deleting subsection (2B) and substituting the following subsection:“(2B) Subsection (2A) applies to —

(a)

an agreement (other than one mentioned in paragraph (b)) entered into on or after 26 October 2017; and

(b)

an agreement on the appropriate criteria to be used to ascertain the transfer pricing of a person’s transactions with the person’s related parties over a specified period (commonly called an advance pricing arrangement), entered into on or after the date on which the Income Tax (Amendment) Act 2021 is published in the Gazette.”.

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