/akn/sg/act/sub_leg/1947/ITA-OR4
The full official text, structured for quick navigation. Copy any provision or jump straight to a section.
Quick answer
Income Tax (Initial Allowance in Respect of Bp Singapore Pte. Ltd., Caltex Operations Ltd. and Singapore Petroleum Co. Pte. Ltd. Joint-vent... is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-OR4 1947, currently marked in force and first recorded in 1947.
Citation
This Order may be cited as the Income Tax (Initial Allowance in respect of BP Singapore Pte. Ltd., Caltex Operations Ltd. and Singapore Petroleum Co. Pte. Ltd. Joint-Venture Catalytic Reformer and Visbreaker Projects) Order and shall apply from the year of assessment 1982 and subsequent years of assessment.
Initial allowance
Subject to paragraph 3, the initial allowance to be made under section 19(1) of the Act in respect of BP Singapore Pte. Ltd., Caltex Operations Ltd. and Singapore Petroleum Co. Pte. Ltd. Joint-Venture Catalytic Reformer and Visbreaker Projects shall be equal to 100% of the capital expenditure incurred on the provision of machinery or plant by BP Singapore Pte. Ltd., Caltex Operations Ltd. and Singapore Petroleum Co. Pte. Ltd. solely for the catalytic reformer and visbreaker projects.
Application of initial allowance
The initial allowance made under this Order shall apply only if the construction of buildings or structures and the installation of machinery or plant for the catalytic reformer and visbreaker projects are completed not later than 30th June 1983, and 30th September 1983, respectively.
The Minister may waive any of the conditions specified in sub-paragraph (1).
Recovery of excess 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.