Singapore legislation
Regulation 4
Regulation 4
Remission of tax and payments in lieu of tax
Subregulation 1
Subject to paragraph 6, there shall be a remission of —
in the case of any premises referred to in paragraph 3(1) owned and let by a statutory board specified in the Second Schedule 10% of any payment made in lieu of tax under section 6(7) of the Act; and
in the case of any other premises referred to in paragraph 3(1), the aggregate of —
the first $2,000 of the tax payable on the annual value attributable to the premises; and
in respect of the amount of tax payable which exceeds $2,000 on the annual value attributable to the premises —
10% of that amount for premises referred to in paragraph 3(1)(a); and
30% of that amount for premises referred to in paragraph 3(1)(b).
Subregulation 2
Where there is any material change of use of the premises at any time in the year 2003, the Comptroller may reduce the amount of tax remitted under sub-paragraph (1) as he thinks is proper and reasonable, and the owner shall be liable to repay any tax remitted in excess of this reduced amount.
Subregulation 3
The amount of tax that the owner is liable to repay under sub-paragraph (2) shall be payable and recoverable in the same manner in which taxes are payable and recoverable under the Act.
Subregulation 4
In this paragraph, “tax payable” means the tax that is computed to be payable for the year 2003 after taking into account the Property Tax (Non-Residential Buildings) (Remission) Order 2002 (G.N. No. S 683/2002) and the Property Tax (Non-Residential Buildings) (Remission) Order 2003 (G.N. No. S 120/2003).