Income Tax (Singapore — Finland) (Avoidance of Double Taxation Agreement) (Modifications to Implement Multilateral Instrument) Order 2019

Status:

Published in Subsidiary Legislation Supplement
on 03 Jun 2019

No. S 423

Income Tax Act

(CHAPTER 134)

Income Tax (Singapore — Finland)
(Avoidance of Double Taxation Agreement)
(Modifications to Implement Multilateral
Instrument) Order 2019

In exercise of the powers conferred by section 49(7) of the Income Tax Act, the Minister for Finance makes the following Order:

Citation and commencement

1. This Order is the Income Tax (Singapore — Finland) (Avoidance of Double Taxation Agreement) (Modifications to Implement Multilateral Instrument) Order 2019 and is deemed to have come into operation on 1 June 2019.

Purpose

2.—(1) This Order amends the arrangements made between the Government of the Republic of Singapore and the Government of the Republic of Finland as specified in the Schedule to the Income Tax (Singapore‑Finland) (Avoidance of Double Taxation Agreement) Order 2002 (O 11(A)) (called in this Order the Agreement), as modified by the Protocol specified in the Schedule to the Income Tax (Singapore — Finland) (Avoidance of Double Taxation Agreement) Order 2010 (G.N. No. S 195/2010).

(2) The purpose of this Order is to amend the Agreement to give effect to Singapore’s obligations under the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting done at Paris on 24 November 2016 (as amended from time to time).

Amendment of Agreement

3. The provisions of the Agreement are amended in the manner set out in the Schedule.

Entry into effect

4.—(1) Subject to paragraph 12 of Article 25A, paragraph 3 of the Schedule has effect with respect to any tax paid, deemed paid or liable to be paid, before, on or after 1 June 2019.

(2) All other paragraphs of the Schedule have effect —

(a)	with respect to taxes withheld at source, in respect of amounts paid, deemed paid or liable to be paid (whichever is the earliest), on or after 1 January 2020; and
(b)	with respect to taxes other than those withheld at source, where the income is derived or received in a basis period beginning on or after 1 December 2019.

Made on 3 June 2019.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[R032.007.2629.V1; AG/LEGIS/SL/134/2015/3 Vol. 9]

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