Section 5Part 2 — Tax Information Authority
Functions of the Authority
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Subject to this Act, the Authority has power to do all things necessary or convenient to be done for or in connection with the performance of its functions under this or any other Law or any scheduled Agreement.
Without prejudice to subsection (1), the principal functions of the Authority include —
subject to sections 8, 22 and 24, executing requests, including but not limited to providing assistance in relation to —
taking the testimony or statement of any person;
providing information and articles of evidence;
serving documents;
executing searches and seizures;
facilitating the automatic exchange of information for tax purposes in accordance with a scheduled Agreement and any implementing arrangements made under a scheduled Agreement;
ensuring compliance with the scheduled Agreements;
advising the Cabinet on matters relating to any proposal or agreement for the provision of information in tax matters, any matter touching upon or relating thereto, and any other related matter at the request of the Cabinet;
making determinations under the terms of any scheduled Agreement as to any costs and the apportionment of such costs relating to or arising from any request;
entering into agreements with competent authorities under scheduled Agreements on matters relating to the operation thereof including matters in relation to the automatic exchange of information;
performing such other functions as may be prescribed under this or any other Law;
monitoring compliance with this Act or regulations made under this Act;
enforcing this Act or regulations made under this Act and investigating a person where the Authority reasonably believes that the person is or has been in breach of this Act or regulations made under this Act;
examining, by way of scrutiny of returns, on-site inspections or audit reports, or in such other manner as the Authority may determine, the affairs or business of any person;
collecting, compiling and sharing, in such manner as the Authority shall determine, statistical information;
entering into memoranda of understanding or other arrangements with any Government department or agency, competent authority, regulatory body or supervisory body as the Authority considers appropriate for the discharge or performance of its responsibilities and functions.
Cross References
- Section 8 of Tax Information Authority Actexternal
subject to section 8 regarding request execution
- Section 22 of Tax Information Authority Actexternal
subject to section 22 regarding request execution
- Section 24 of Tax Information Authority Actexternal
subject to section 24 regarding request execution