Regulation
No. S 601Income Tax Act(CHAPTER 134)Income Tax (Singapore — Bermuda)(Agreement for the Exchange of Informationon Tax Matters) Order 2012WHEREAS it is provided by section 105BA of the Income Tax Act that if the Minister by order declares that an arrangement specified in the order has been made with the government of any country outside Singapore for the exchange of information concerning the tax positions of persons, and that it is expedient that that arrangement should have effect, then the arrangement shall have effect notwithstanding anything in any written law:AND WHEREAS it is provided by section 105C of the Income Tax Act that the Minister may by order declare an avoidance of double taxation arrangement or an exchange of information arrangement as a prescribed arrangement for the purposes of Part XXA of the Act:AND WHEREAS by an Agreement dated 29th October 2012 between the Government of the Republic of Singapore and the Government of Bermuda, arrangements were made to facilitate the exchange of information on tax matters covered by the Agreement:NOW, THEREFORE, it is hereby declared by the Minister for Finance —
that the arrangements specified in the Schedule have been made with the Government of Bermuda for the exchange of information concerning the tax positions of persons;
that it is expedient that those arrangements should have effect notwithstanding anything in any written law; and
that those arrangements specified in the Schedule are a prescribed arrangement for the purposes of Part XXA of the Act.Made this 29th day of November 2012.LIM SOO HOONPermanent Secretary(Finance) (Performance),Ministry of Finance,Singapore.[MF(R) R32.2.0055 V4; AG/LLRD/SL/134/2010/7 Vol. 3]