Singapore legislation
Section 74
Section 74
Power to reduce or remit duties
(1)
The Minister may, in his or her discretion and subject to such conditions as he or she may impose, reduce or remit, prospectively or retrospectively, in the whole or any part of Singapore, the duties with which any instrument or any particular class of instruments, or any of the instruments belonging to such class, or any instrument when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable.
(2)
The Minister may impose a condition under subsection (1) that a person who fails to comply with any condition imposed under that subsection, must pay interest on any amount recoverable under subsection (6) for the following period:
in a case where duty was paid on the instrument and then refunded, the period starting on the date on which the refund was made and ending on the expiry of the one month period mentioned in subsection (8) or earlier;
in any other case, the period starting on —
the date of execution of the instrument, if it is executed in Singapore; or
the date the instrument is first received in Singapore, if it is executed outside Singapore,and ending on the expiry of the one month period mentioned in subsection (8) or earlier.
(3)
A reduction or remission of duty in relation to a class of instruments, or any instrument belonging to such class, or any instrument when executed by or in favour of a class of persons, or by or in favour of members of such class, must be made by rules, and the conditions (if any) must be specified in the rules.
(4)
Orders made under subsection (3) in force immediately before 1 January 2012 are deemed to be rules made under subsection (3).
(5)
The Minister may, in any particular case, in his or her discretion and at any time, waive in whole or in part any condition imposed under subsection (1).
(6)
Where the Minister is satisfied that a person to whom a remission or reduction of duty is granted fails to comply with any condition imposed under subsection (1) (whether a condition precedent or a condition subsequent), an amount equal to the amount of duty so remitted or reduced, together with any interest that the person is to pay under a condition mentioned in subsection (2), is recoverable as a debt due to the Government.
(7)
Subsection (6) does not apply to any condition which has been, or to the extent that it has been, waived in the person’s case under subsection (5).
(8)
The amount recoverable under subsection (6) is payable at the place stated in a notice served by the Commissioner on the person, within one month after the service of the notice by the Commissioner on that person.
(9)
The Commissioner may, subject to such terms and conditions (including the imposition of interest) as the Commissioner may impose, extend the time delimited by subsection (8) within which payment is to be made.
(10)
If any amount recoverable from a person under subsection (6) and any interest imposed under subsection (9) is not paid within the period specified in subsection (8) or extended under subsection (9), the following penalties shall be imposed on the person:
where the outstanding amount is paid to the Commissioner within 3 months from the end of such period, a penalty of $10 or the outstanding amount, whichever is the greater; and
where the outstanding amount is not paid to the Commissioner within 3 months from the end of such period, a penalty of $25 or 4 times the outstanding amount, whichever is the greater.
(11)
The Commissioner may reduce or remit any penalty imposed under this section.
(12)
Sections 50 and 70AA apply to the collection and recovery by the Commissioner of the amount recoverable under subsection (6), any interest imposed under subsection (9) and any penalty imposed under subsection (10) as they apply to the collection and recovery of duty and penalty required to be paid under this Act.