Singapore legislation
Clause 8
Clause 8
Amendment of section 13
Section 13 of the principal Act is amended by deleting subsection (1) and substituting the following subsections:“(1) Subject to subsection (1A), if any cess is not accounted for and paid within the time prescribed by the Board —
a penalty equal to 5% of the amount of cess payable whether estimated or not shall be added thereto; and
if the amount of cess outstanding is not paid within 60 days of the imposition of the penalty as provided by paragraph (a), an additional penalty of 2% of the cess outstanding shall be payable for each completed month that the cess remains unpaid commencing from the date on which the cess became payable, except that the total additional penalty shall not exceed 50% of the amount of cess outstanding.(1A) The provisions of this Act relating to the collection and recovery of cess shall apply to the collection and recovery of the penalty and additional penalty.”.