Singapore legislation
Regulation 2
of Income Tax (Section 68A — Prescribed Classes of Persons) Rules 2023
Regulation 2
Prescribed class of persons
Subregulation 1
Section 68A of the Act applies to any person (X) who has entered into an agreement or arrangement with another person (Y) under which X, or a related party of X, pays a commission, fees or similar payment to Y to —
act as an agent or representative of X or a related party of X, in the supply of goods or services by X or that related party to another person; or
promote the supply of goods or services by X or a related party of X, to another person.
Subregulation 2
Each person in the first column of the following table is an example of X, and the person in the second column opposite each X is an example of Y in relation to that X:XYFinancial adviserRepresentativeEstate agentSalespersonInsurerInsurance agent