Singapore legislation
Regulation 7A
Regulation 7A
Record keeping
Amended byS 145/2022 wef 01/03/2022
For the purposes of section 146(3B) of the Act, the rate of interest on the amount of casino tax that ought not to have been exempted for any year (called the reporting year) is the rate ascertained by adding the following:
(a)
the 3‑month compounded Singapore overnight rate average (commonly called SORA) published by the Monetary Authority of Singapore at its website at http://mas.gov.sg (under Statistics Room — Financial Databases) for the last day of the year preceding the reporting year;
(b)
6%.