Bill No. /. Read the first time on . 1. ... Amendment of section 8A 2. Section 8A of the Income Tax Act (called in this Act the principal Act) is amended — (a) by deleting the words 65B(3)” in subsection (1)(a) “section and substituting the words 65B(3) or 105L(1)”; and “section (b) by deleting the words 45D(2A)” in subsection (3) and “and substituting the words 45D(2A) and 105L(1A)(c)”. “, Amendment of section 105I Section 105I of the principal Act is amended by inserting 3. immediately before the definition of tax compliance “international agreement”, the following definition — authority agreement” a bilateral or “ “competent multilateral agreement to improve international tax compliance based on the standard for automatic exchange of financial account information in tax matters developed by the Organisation for Economic and Development;”. Amendment of section 105K 4. Section 105K(1) of the principal Act is amended — (a) by inserting immediately after paragraph (a), the following paragraph — a competent authority agreement between the “(aa) Government and —
Bill No. /. Read the first time on . 1. ... Amendment of section 8A 2. Section 8A of the Income Tax Act (called in this Act the principal Act) is amended — (a) by deleting the words “section 65B(3)” in subsection (1)(a) and substituting the words “section 65B(3) or 105L(1)”; and (b) by deleting the words “and 45D(2A)” in subsection (3) and substituting the words “, 45D(2A) and 105L(1A)(c)”. Amendment of section 105I 3. Section 105I of the principal Act is amended by inserting immediately before the definition of “international tax compliance agreement”, the following definition — “ “competent authority agreement” a bilateral or multilateral agreement to improve international tax compliance based on the standard for automatic exchange of financial account information in tax matters developed by the Organisation for Economic and Development;”. Amendment of section 105K 4. Section 105K(1) of the principal Act is amended — (a) by inserting immediately after paragraph (a), the following paragraph — “(aa) a competent authority agreement between the Government and —
2016ITABill_Clause2to9.docx