Income Tax (International Tax Compliance Agreements) (Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information) (Amendment) Order 2021

Status:

Published in Subsidiary Legislation Supplement
on 09 Feb 2021

No. S 86

Income Tax Act

(CHAPTER 134)

Income Tax
(International Tax Compliance Agreements)
(Multilateral Competent Authority Agreement
on Automatic Exchange of Financial Account
Information) (Amendment) Order 2021

In exercise of the powers conferred by section 105K(1) of the Income Tax Act, the Minister for Finance makes the following Order:

Citation and commencement

1. This Order is the Income Tax (International Tax Compliance Agreements) (Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information) (Amendment) Order 2021 and comes into operation on 9 February 2021.

Amendment of paragraph 2

2. Paragraph 2 of the Income Tax (International Tax Compliance Agreements) (Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information) Order 2018 (G.N. No. S 29/2018) is amended by deleting the full‑stop at the end of sub‑paragraph (r) and substituting a semi‑colon, and by inserting immediately thereafter the following sub‑paragraphs:

“(s)	the competent authority of the country specified in the Nineteenth Schedule, with effect from and including 3 February 2020;
(t)	the competent authority of the country specified in the Twentieth Schedule, with effect from and including 16 June 2020;
(u)	the competent authority of the country specified in the Twenty‑First Schedule, with effect from and including 17 September 2020;
(v)	the competent authority of the country specified in the Twenty‑Second Schedule, with effect from and including 19 October 2020;
(w)	the competent authority of each of the countries specified in the Twenty‑Third Schedule, with effect from and including 21 January 2021.”.

New Nineteenth to Twenty-Third Schedules

3. The Income Tax (International Tax Compliance Agreements) (Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information) Order 2018 is amended by inserting, immediately after the Eighteenth Schedule, the following Schedules:

“NINETEENTH SCHEDULE

Paragraph 2(s)

country

1. Turkey

TWENTIETH SCHEDULE

Paragraph 2(t)

country

1. Nigeria

TWENTY‑FIRST SCHEDULE

Paragraph 2(u)

country

1. Oman

TWENTY‑SECOND SCHEDULE

Paragraph 2(v)

country

1. Albania

TWENTY‑THIRD SCHEDULE

Paragraph 2(w)

COUNTRIES

1. Brunei Darussalam

2. Peru”.

[G.N. Nos. S 299/2018; S 735/2018; S 295/2019; S 105/2020; S 395/2020]

Made on 7 February 2021.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[R045.003.0012.V23; AG/LEGIS/SL/134/2020/8 Vol. 1]

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