Regulation 1
Citation
This Order may be cited as the Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order and shall have effect for the year of assessment 1980 and subsequent years of assessment.
/akn/sg/act/sub_leg/1947/ITA-OR2
Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1947
- Sections
- 4
Quick answer
About this subsidiary legislation
Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-OR2 1947, currently marked in force and first recorded in 1947.
Regulation 2
Initial allowance
Subject to paragraph 3, the initial allowance to be made under section 19(1) of the Act in respect of capital expenditure incurred on the provision of machinery or plant by Mobil Oil Singapore (Pte.) Ltd. for the Visbreaker complex shall be equal to —
(a)
100% of the expenditure incurred on the provision of one automatic blending system for producing different fuel oil grade;
(b)
100% of the expenditure incurred on the provision of one vacuum tower, visbreaker, desulphuriser and sulphur recovery plant;
(c)
50% of the expenditure incurred on the provision of two new product tanks;
(d)
50% of the expenditure incurred on the provision of one new “Merox” treating unit for the manufacturing of jet fuel; and
(e)
50% of the expenditure incurred on the provision of one new tankage for the storage of liquefied petroleum gas.
Regulation 3
Application of initial allowance
Subregulation 1
The initial allowance made under this Order shall apply only if —
(a)
the construction of buildings or structures and the installation of machinery or plant for the Visbreaker complex are completed; and
(b)
the capital expenditure on the provision of the items of machinery and plant specified in paragraph (2) is incurred,not later than the 30th June 1982.
Subregulation 2
The Minister may waive any of the conditions specified in sub-paragraph (1).
Regulation 4
Recovery of excess of initial allowance
Where any condition specified in paragraph 3 is not satisfied and is not waived by the Minister, section 19A of the Act shall apply and the Comptroller shall be entitled to recover any initial allowance which has been made in excess of that allowable under that section.
Common questions
- What is Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order?
- Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-OR2 1947, currently marked in force and first recorded in 1947.
- Is Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order still in force?
- Yes — Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order is currently in force.
- When did Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order take effect?
- Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order was first recorded in 1947.
- How many regulations does Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order have?
- Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order contains 4 regulations.
- Where can I read the official version of Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order?
- The official text of Income Tax (Initial Allowance in respect of Mobil Oil Singapore (Pte.) Ltd. Visbreaker Complex) Order is published at sso.agc.gov.sg.