Singapore legislation
Regulation 5
Regulation 5
Period of remission of tax
Subregulation 1
Subject to paragraph 7, the remission of tax in respect of any vacant port land under paragraph 3 shall be for the period commencing on ––
(a)
the date on which PSA Corporation Ltd acquires ownership of the vacant port land, if such acquisition is after 1st January 2005; or
(b)
1st January 2005, if PSA Corporation Ltd acquired ownership of the vacant port land before 1st January 2005,and, unless earlier revoked under this Order, ending on the date that port operations commence on that vacant port land.
Subregulation 2
No remission of tax under paragraph 3 shall be granted in respect of any vacant port land for any period before 1st January 2005.