Income Tax (Exchange of Information Arrangement) Order 2016 comes into operation on 1 May 2016 [S 34/2016]

On By taxsgIn Corporate Tax, e-Gazette, Legislative Updates

2 February 2016

The Income Tax (Exchange of Information Arrangement) Order 2016 was first published in the Government Gazette, Electronic Edition, on 25 January 2016 and comes into operation on 1 May 2016.

In the Order, the Declaration of Exchange of Information Arrangement states that Singapore is a party to the Convention on Mutual Administrative Assistance in Tax Matters.

The Schedule of the Order is listed as follows:

  • Chapter 1 – Scope of the Convention
  • Chapter 2 – General definitions
  • Chapter 3 – Forms of assistance
  • Chapter 4 – Provisions relating to all forms of assistance
  • Chapter 5 – Special provisions
  • Chapter 6 – Final provisions

Singapore signed the Convention on Mutual Administrative Assistance in Tax Matters on 29 May 2013.

Source: Government Gazette