Regulation 3
Calculation of annual value of MRT System
of Property Tax (Mass Rapid Transit System) Order
Subsidiary LegislationIn forceProvision 3 of 5
Regulation 3
Subject to this Order, the annual value of the MRT System in any year during the period commencing from and including 1st July 1990 and ending on the expiration of 5 years from the date of commencement of operation of the MRT System shall be 2 parts in 16 (2/16) of the gross receipts from the operation of the MRT System during the preceding calendar year.