Singapore legislation

Regulation 8

of Singapore Tourism (Cess Collection) (Formula 1 Singapore Airlines Singapore Grand Prix 2023) Order 2023

Regulation 8

Gross receipts where consideration paid wholly in money

Subregulation 1

This paragraph applies to every taxable transaction connected with a tourism event where consideration for the taxable transaction is paid wholly in money.

Subregulation 2

To avoid doubt, sub‑paragraph (1) includes a taxable transaction in paragraph 5(1)(b) (called in this sub‑paragraph T2) —

(a)

that relates to a taxable transaction in paragraph 5(1)(a) (called in this sub‑paragraph T1) whose consideration is payable in money’s worth, or in both money and money’s worth; and

(b)

where none of the consideration for T1 is forfeited as a result of T2, and the consideration for T2 is paid for wholly in money.

Subregulation 3

The gross receipts derived from a taxable transaction in paragraph 5(1)(a) connected with the tourism event is the total of the following:

(a)

the consideration paid for the taxable transaction;

(b)

all additional payments as follows:

(i)

any sum paid for what is commonly known as early check‑in or late check‑out;

(ii)

any sum paid for providing additional sleeping facilities in the same accommodation.

Subregulation 4

The gross receipts derived from a taxable transaction in paragraph 5(1)(b) connected with the tourism event is the total of the following:

(a)

all charges paid for the termination;

(b)

all deposits forfeited because of the termination.

Read in full context — Singapore Tourism (Cess Collection) (Formula 1 Singapore Airlines Singapore Grand Prix 2023) Order 2023 →