Singapore legislation
Section 47A
Section 47A
Surcharge on adjustments under section 47
(1)
This section applies where any additional tax is imposed on a person under section 47(1A) in respect of a prescribed accounting period starting on or after 1 January 2021.
(2)
In a case mentioned in subsection (1), a surcharge equal to 50% of the amount of the additional tax is imposed on the person and is recoverable by the Comptroller from the person as a debt due to the Government.
(3)
Despite any objection under section 49 to or appeal under Part 8 lodged against the additional tax, the surcharge must be paid to the Comptroller —
within one month after the date a written notice of the surcharge is served in accordance with section 87(1) on the person to whom the surcharge is imposed; and
in the manner stated in the notice.
(4)
The Comptroller may, in the Comptroller’s discretion, and subject to any term and condition (including the imposition of interest on the surcharge) as the Comptroller may impose, extend the time within which payment of the surcharge is to be made.
(5)
The Comptroller may, for good cause, remit wholly or in part any surcharge or interest payable to the Comptroller under this section.
(6)
If, upon any objection under section 49 or appeal under Part 8, any additional tax is varied or annulled, then the surcharge is correspondingly increased, reduced or annulled (as the case may be), and —
if the surcharge is increased, subsections (2), (3), (4) and (5) apply to the increased amount of the surcharge as they apply to the surcharge; or
if the surcharge is reduced or annulled and it has already been paid to the Comptroller, the amount of the reduction or the entire amount (including any interest paid to the Comptroller on the amount) must be refunded.