Comparison View

Formal Consolidation |  2006 RevEd
Power to reduce or remit duties
74.  The Minister may reduce or remit, prospectively or retrospectively, in the whole or any part of Singapore, the duties with which any instrument or any particular class of instruments, or any of the instruments belonging to such class, or any instrument when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable.
(1)  The Minister may reduce or remit, prospectively or retrospectively, in the whole or any part of Singapore, the duties with which any instrument or any particular class of instruments, or any of the instruments belonging to such class, or any instrument when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable.
[33/99]
[33/99]
Informal Consolidation | Amended Act 37 of 2018
Power to reduce or remit duties
74.—(1)  The Minister may, in his discretion and subject to such conditions as he may impose, reduce or remit, prospectively or retrospectively, in the whole or any part of Singapore, the duties with which any instrument or any particular class of instruments, or any of the instruments belonging to such class, or any instrument when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable.
[33/99]
[28/2010 wef 09/12/2010]
(1A)  The Minister may impose a condition under subsection (1) that a person who fails to comply with any condition imposed under that subsection, must pay interest on any amount recoverable under subsection (3) for the following period:
(a)in a case where duty was paid on the instrument and then refunded, the period starting on the date on which the refund was made and ending on the expiry of the one month period mentioned in subsection (4) or earlier;
(b)in any other case, the period starting on —
(i)the date of execution of the instrument, if it is executed in Singapore; or
(ii)the date the instrument is first received in Singapore, if it is executed outside Singapore,
and ending on the expiry of the one month period mentioned in subsection (4) or earlier.
[Act 37 of 2018 wef 04/10/2018]
(2)  A reduction or remission of duty in relation to a class of instruments, or any instrument belonging to such class, or any instrument when executed by or in favour of a class of persons, or by or in favour of members of such class, shall be made by rules, and the conditions (if any) shall be specified in the rules.
[28/2010 wef 09/12/2010]
[23/2011 wef 01/01/2012]
(2A)  Orders made under subsection (2) in force immediately before 1st January 2012 shall be deemed to be rules made under subsection (2).
[Act 1 of 2013 wef 22/02/2013]
(2B)  The Minister may, in any particular case, in his discretion and at any time waive in whole or in part any condition imposed under subsection (1).
[23/2011 wef 01/01/2012]
[Act 1 of 2013 wef 22/02/2013]
(3)  Where the Minister is satisfied that a person to whom a remission or reduction of duty is granted fails to comply with any condition imposed under subsection (1) (whether a condition precedent or a condition subsequent), an amount equal to the amount of duty so remitted or reduced, together with any interest that the person is to pay under a condition mentioned in subsection (1A), shall be recoverable as a debt due to the Government.
[28/2010 wef 09/12/2010]
[Act 37 of 2018 wef 04/10/2018]
(3A)  Subsection (3) does not apply to any condition which has been, or to the extent that it has been, waived in the person’s case under subsection (2B).
[23/2011 wef 01/01/2012]
[Act 1 of 2013 wef 22/02/2013]
(4)  The amount recoverable under subsection (3) shall be payable at the place stated in a notice served by the Commissioner on the person, within one month after the service of the notice by the Commissioner on that person.
[28/2010 wef 09/12/2010]
(5)  The Commissioner may, in his discretion and subject to such terms and conditions (including the imposition of interest) as he may impose, extend the time delimited by subsection (4) within which payment is to be made.
[28/2010 wef 09/12/2010]
(6)  If any amount recoverable from a person under subsection (3) and any interest imposed under subsection (5) is not paid within the period specified in subsection (4) or extended under subsection (5), the following penalties shall be imposed on the person:
(a)where the outstanding amount is paid to the Commissioner within 3 months from the expiration of such period, a penalty of $10 or the outstanding amount, whichever is the greater; and
(b)where the outstanding amount is not paid to the Commissioner within 3 months from the expiration of such period, a penalty of $25 or 4 times the outstanding amount, whichever is the greater.
[28/2010 wef 09/12/2010]
(7)  The Commissioner may reduce or remit any penalty imposed under this section.
[28/2010 wef 09/12/2010]
(8)  Sections 50 and 70AA shall apply to the collection and recovery by the Commissioner of the amount recoverable under subsection (3), any interest imposed under subsection (5) and any penalty imposed under subsection (6) as they apply to the collection and recovery of duty and penalty required to be paid under this Act.
[28/2010 wef 09/12/2010]