Is Income Tax (Mode of Payment for Refunds) Rules 2021 still in force?

Yes — Income Tax (Mode of Payment for Refunds) Rules 2021 is currently in force.

How many regulations does Income Tax (Mode of Payment for Refunds) Rules 2021 have?

Income Tax (Mode of Payment for Refunds) Rules 2021 contains 2 regulations.

Where can I read the official version of Income Tax (Mode of Payment for Refunds) Rules 2021?

The official text of Income Tax (Mode of Payment for Refunds) Rules 2021 is published at sso.agc.gov.sg.

/akn/sg/act/sub_leg/1947/ITA-S1005-2021

Income Tax (Mode of Payment for Refunds) Rules 2021

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Type: Subsidiary Legislation
Status: In force
Enacted: 1947
Sections: 2

Quick answer

About this subsidiary legislation

Income Tax (Mode of Payment for Refunds) Rules 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S1005-2021 1947, currently marked in force and first recorded in 1947.

Regulation 1

Citation and commencement

These Rules are the Income Tax (Mode of Payment for Refunds) Rules 2021 and come into operation on 3 January 2022.

Regulation 2

Prescribed mode of payment for refunds

Subregulation 1

A refund to a company under the Act is to be made by transferring the funds for the refund to a bank account mentioned in paragraph (2) through any of the following means:

(a)

telegraphic transfer;

(b)

the electronic direct debit mechanism known as GIRO;

(c)

the electronic fund transfer service known as PayNow.

Subregulation 2

For the purpose of paragraph (1), the bank account must be in the name of the company or a person authorised by the company to receive the funds on behalf of the company.

Subregulation 3

A refund under paragraph (1) may be made through any means not mentioned in that paragraph if —

(a)

the company —

(i)

has made reasonable attempts to open a bank account for the purposes of receiving the refund through a means mentioned in paragraph (1), but has been unable to open any such bank account; and

(ii)

has made reasonable attempts to find a person to authorise to receive, on behalf of the company, the refund into a bank account in the name of that person through a means mentioned in paragraph (1), but has been unable to find any such person; or

(b)

due to any system failure, the funds for the refund cannot be transferred to a bank account mentioned in paragraph (2) through a means mentioned in paragraph (1).

Common questions

What is Income Tax (Mode of Payment for Refunds) Rules 2021?: Income Tax (Mode of Payment for Refunds) Rules 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S1005-2021 1947, currently marked in force and first recorded in 1947.
Is Income Tax (Mode of Payment for Refunds) Rules 2021 still in force?: Yes — Income Tax (Mode of Payment for Refunds) Rules 2021 is currently in force.
When did Income Tax (Mode of Payment for Refunds) Rules 2021 take effect?: Income Tax (Mode of Payment for Refunds) Rules 2021 was first recorded in 1947.
How many regulations does Income Tax (Mode of Payment for Refunds) Rules 2021 have?: Income Tax (Mode of Payment for Refunds) Rules 2021 contains 2 regulations.
Where can I read the official version of Income Tax (Mode of Payment for Refunds) Rules 2021?: The official text of Income Tax (Mode of Payment for Refunds) Rules 2021 is published at sso.agc.gov.sg.