Singapore legislation

Regulation 3

of Property Tax (Valuation by Gross Receipts for Port Facilities) Order

Regulation 3

Assessment of annual value

Subject to the provisions of this Order, the annual value of a port facility —

(a)

for the period from 1st October 1997 to 31st December 1997 shall be 9% of the gross receipts arising from the port operations carried out at the port facility by PSA in 1996;

(b)

for the year 1998 shall be 9% of the combined gross receipts arising from the port operations carried out at the port facility —

(i)

by PSA for the period from 1st January 1997 to 30th September 1997 (both dates inclusive); and

(ii)

by PSA Corporation Ltd for the period from 1st October 1997 to 31st December 1997 (both dates inclusive); and

(c)

for the year 1999 and every subsequent year shall be 9% of the gross receipts arising from the port operations carried out at the port facility by PSA Corporation Ltd in the preceding calendar year.

Read in full context — Property Tax (Valuation by Gross Receipts for Port Facilities) Order →