09 Sep 099 New Tax Information Exchange agreement with Singapore
In a media release issued on 8 September 2009, the Assistant Treasurer, Senator Nick Sherry, announced that, at a ceremony in Canberra held on that day, he had signed an amended tax treaty between Australia and Singapore, enabling the greater exchange of information on potential tax abuse.
The treaty will give tax authorities in both countries greater ability to exchange taxpayer information and to exchange information on a wider range of taxes. The treaty also provides that neither tax authority can refuse to provide information solely because it does not require the information for its own domestic purposes, or because the information is held by a bank or similar institution.
For a copy of the Minister's media release, No 2009/047, 8 September 2009, go here
For a copy of the Second Protocol to the Australia-SingaporeTax Treaty, go here