Income Tax Act 1947 · 2020 Revised Edition · Part 7 · Ascertainment of Certain Income
33A. Surcharge on adjustments under section 33
Feedback & supportLast amended by an amending law of 2020.
This section applies where, in the year of assessment 2023 or a subsequent year of assessment —
year of assessment
“year of assessment” means the period of 12 months commencing on 1 January 1948, and each subsequent period of 12 months.
the Comptroller imposes a liability to tax or an additional amount of tax on a person for that year of assessment under section 33;
the Comptroller recomputes any gain, profit or loss of, any capital allowance allowed to, or any deduction for a donation made by, a person for that year of assessment under section 33 which results in the imposition of a liability to tax or an additional amount of tax on that person for any year of assessment; or
as a result of an adjustment under section 33, any qualifying deduction that has been transferred under section 37B by a transferor company to a claimant company is reduced or disregarded, and the Comptroller makes an assessment on the claimant company for an amount of tax or an additional amount of tax.
In a case mentioned in subsection (1)(a) or (b), a surcharge equal to 50% of the amount of tax or the additional amount of tax is imposed on the person, and is recoverable by the Comptroller from the person as a debt due to the Government.
In a case mentioned in subsection (1)(c), a surcharge equal to 50% of the amount of tax or the additional amount of tax assessed on the claimant company is imposed on the transferor company, and is recoverable by the Comptroller from the transferor company as a debt due to the Government.
company
“company” means any company incorporated or registered under any law in force in Singapore or elsewhere;
Despite any objection under section 76 to or an appeal lodged under Part 18 against an adjustment made under section 33 or any assessment, the surcharge must be paid —
within one month after the date a written notice of the surcharge is served in accordance with section 8(1) on the person to whom the surcharge is imposed; and
in the manner stated in the notice.
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 is to be made.
Comptroller
“Comptroller” means the Comptroller of Income Tax appointed under section 3(1) and includes, for all purposes of this Act except the exercise of the powers conferred upon the Comptroller by sections 34F(9), 37L(7), 37M(5), 67(1)(a), 95, 96, 96A and 101, a Deputy Comptroller or an Assistant Comptroller so appointed;
Sections 86(1) to (6), 87(1) and (2), 89, 90 and 91 apply to the collection and recovery of a surcharge and any interest imposed under subsection (5), as they apply to the collection and recovery of tax.
The Comptroller may, for good cause, remit wholly or in part any surcharge or interest payable under this section.
If, upon an objection under section 76 to or an appeal lodged under Part 18, an assessment made pursuant to any adjustment made under section 33 is varied or annulled, then the surcharge is correspondingly increased, reduced or annulled (as the case may be), and —
if the surcharge is increased, subsection (2) or (3) (as the case may be) and subsections (4), (5), (6) and (7) 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 on the amount) must be refunded.
In this section, “claimant company”, “qualifying deduction” and “transferor company” have the meanings given by section 33(5).