Singapore legislation

Clause 83

of Multinational Enterprise (Minimum Tax) Bill

Clause 83

Application of other ITA provisions

(1)

This section applies other ITA provisions for the purposes of this Act.

(2)

Section 6 of the ITA applies with the following modifications:

(a)

a reference in that section to any document, information, return, or assessment list relating to income or items of income of a person is to any document, information, return, or assessment list relating to the GloBE income or loss or items of GloBE income or loss of any entity for a financial year;

(b)

a reference in section 6(13) to information relating to a person is to information relating to an entity;

(c)

regulations may be made under section 84 (instead of under section 7 of the ITA) for matters to be prescribed for that section.

(3)

Any person who contravenes section 6 of the ITA as applied by subsection (2) is guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and in default of payment to imprisonment for a term not exceeding 6 months.

(4)

Sections 8, 8A and 9 of the ITA apply with the following modifications:

(a)

a reference to a company is to an entity;

(b)

a reference to a return, estimate, statement, notice, direction or other document is to a return, estimate, statement, notice, direction or other document under this Act;

(c)

regulations may be made under section 84 (instead of section 8A of the ITA) for the matters in section 8A(3) and (4) as applied by this subsection.

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