Income Tax (Relief From double Taxation) (Republic of Korea) Order, 2016

No. S 17

INCOME TAX ACT

(CHAPTER 35)

INCOME TAX (RELIEF FROM DOUBLE TAXATION)

(REPUBLIC OF KOREA) ORDER, 2016

WHEREAS it is provided by section 41 ( 1) of the Income Tax Act that if His

Majesty the Sultan and Yang Di-Pertuan in Council by order declares that arrangements specified in the order have been made with the government of any country or territory outside Brunei Darussalam with a view to affording relief from double taxation in relation to tax under that Act and any tax of a similar character imposed by the laws of that country or territory and that it is expedient that those arrangements should have effect, the arrangements shall have effect in relation to tax and other related matters under that Act notwithstanding anything in any written law.

AND WHEREAS by an agreement dated the 9th day of December 2014

between the Government of His Majesty the Sultan and· Yang Di-Pertuan of

Brunei Darussalam and the Government of the Republic of Korea, arrangements were made amongst other things in respect of the relief from double taxation relating to tax matters.

AND WHEREAS by a protocol dated the 9th day of December 2014 between the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei

Darussalam and the Government of the Republic of Korea, Articles 7, 11 and 25

of the agreement were clarified.

NOW THEREFORE it is hereby declared by His Majesty the Sultan and

Yang Di-Pertuan in Council that-

(aj the agreement specified in the First Schedule, as clarified by the

Protocol specified in the Second Schedule, have been made with the Government of the Republic of Korea ; and

{bj it is expedient that the arrangements in such agreement shall have effect notwithstanding anything in any written law.