No. S 967
Income Tax Act 1947
Income Tax (Singapore — Bulgaria)
(Avoidance of Double Taxation Agreement)
(Modifications to Implement Multilateral
Instrument) Order 2022
In exercise of the powers conferred by section 49(7) of the Income Tax Act 1947, the Minister for Finance makes the following Order:
Citation and commencement
1.  This Order is the Income Tax (Singapore — Bulgaria) (Avoidance of Double Taxation Agreement) (Modifications to Implement Multilateral Instrument) Order 2022 and comes into operation on 1 January 2023.
Purpose
2.—(1)  This Order amends the arrangements made between the Government of the Republic of Singapore and the Government of the Republic of Bulgaria as specified in the Schedule to the Income Tax (Singapore — Bulgaria) (Avoidance of Double Taxation Agreement) Order 1997 (O 8A) (called in this Order the Agreement).
(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.  The amendments mentioned in paragraph 3 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 2023; 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 July 2023.
Made on 18 November 2022.
LAI WEI LIN
Second Permanent Secretary,
Ministry of Finance,
Singapore.
[AG/LEGIS/SL/134/2020/1 Vol. 15]
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