Central Provident Fund (Self-Employed Persons) (Amendment No. 2) Regulations 2023

No. S 917

Central Provident Fund Act 1953

Central Provident Fund
(Self‑Employed Persons)
(Amendment No. 2) Regulations 2023

In exercise of the powers conferred by section 77(1) of the Central Provident Fund Act 1953, the Minister for Manpower, after consulting with the Central Provident Fund Board, makes the following Regulations:

Citation and commencement

1. These Regulations are the Central Provident Fund (Self‑Employed Persons) (Amendment No. 2) Regulations 2023 and come into operation on 1 January 2024.

Amendment of regulation 2

2. In the Central Provident Fund (Self‑Employed Persons) Regulations (Rg 25) (called in these Regulations the principal Regulations), in regulation 2(1) —

(a)	in the definition of “income”, after “assessable income”, insert “accrued in or derived from Singapore or received in Singapore from outside Singapore”;
(b)	in the definition of “notice of computation”, replace “regulation 6 or 7(6)” with “regulation 6, 7(6) or 7A(5)”; and
(c)	in the definition of “self‑employed person”, replace “derives from Singapore or receives from outside Singapore income in respect of any trade, business, profession or vocation other than employment under a contract of service” with “accrues, derives or receives income”.

Amendment of regulation 3

3. In the principal Regulations, in regulation 3 —

(a)

replace paragraph (1) with —

“(1) Subject to paragraph (2), these Regulations apply to a self‑employed person whose income is more than $6,000 for any relevant year.”; and

(b)

in paragraph (2), after “7,”, insert “7A,”.

Amendment of regulation 4

4. In the principal Regulations, in regulation 4(5), (6) and (11)(a) and (b), replace “derived or received” with “accrued, derived or received”.

Amendment of regulation 6

5. In the principal Regulations, in regulation 6(1), replace “derived or received” with “accrued, derived or received”.

Amendment of regulation 7

6. In the principal Regulations, in regulation 7 —

(a)	in the regulation heading, after “1 January 2018”, insert “but before 1 January 2023”;
(b)	in paragraph (1), after “1 January 2018”, insert “but before 1 January 2023”;
(c)	in paragraph (3)(a), replace “derived or received” with “accrued, derived or received”; and
(d)	in paragraph (4), replace “the income the self‑employed person derived or received” with “the self‑employed person’s income accrued, derived or received”.

New regulation 7A

7. In the principal Regulations, after regulation 7, insert —

“Payment and computation of contributions for relevant year starting on or after 1 January 2023

7A.—(1) This regulation applies to the contributions payable by a self‑employed person for each relevant year starting on or after 1 January 2023.

(2) A self‑employed person must pay the contributions for each relevant year not later than —

(a)	30 days after the date of issue of the notice of computation for the relevant year; or
(b)	where the Board specifies an extended period of payment for the contributions for a relevant year — the end of that extended period.

(3) The contributions for a relevant year may be paid in instalments, so long as the total amount of those contributions is paid not later than the time of payment applicable to those contributions under paragraph (2).

(4) The notice of computation must state the amount of the contributions payable by the self‑employed person for the relevant year —

(a)	as computed on the basis of the self‑employed person’s income for the relevant year stated in a notice of assessment in respect of that income; or
(b)	as recomputed under paragraph (5).

(5) The Board may in its discretion recompute the amount of contributions payable by a self‑employed person for a relevant year if the Board is satisfied that the self‑employed person is liable to pay an amount other than the relevant amount specified in a notice of computation that was previously issued to the self‑employed person, after taking into account —

(a)	any notice of assessment;
(b)	any notice of additional assessment or notice of revised assessment issued by the Comptroller under section 74 or 76 of the Income Tax Act 1947; or
(c)	any information or supporting documents that the Board may require, given by the self‑employed person to the Board in the manner the Board requires,

in respect of the self‑employed person’s income for the relevant year.”.

Amendment of regulation 8

8. In the principal Regulations, in regulation 8(1), replace “regulation 6 or 7(6)” with “regulation 6, 7(6) or 7A(5)”.

Amendment of regulation 8A

9. In the principal Regulations, in regulation 8A(1) —

(a)	replace “regulation 4(1)(i)” with “regulation 4(1)”; and
(b)	replace “regulation 7(6)” with “regulation 7(6) or 7A(5)”.

Amendment of regulation 14

10. In the principal Regulations, in regulation 14, after “7,”, insert “7A,”.

Amendment of regulation 15

11. In the principal Regulations, in regulation 15(3), replace “derived or received” with “accrued, derived or received”.

Amendment of regulation 17A

12. In the principal Regulations, in regulation 17A(1) and (2), after “7,”, insert “7A,”.

Amendment of Second Schedule

13. In the principal Regulations, in the Second Schedule, in paragraph 1 —

(a)	replace “1 September 2023” with “1 January 2024”;
(b)	in column (3), replace “0.45” with “0.48”;
(c)	in column (3), replace “15%” wherever it appears with “16%”;
(d)	in column (4), replace “0.285” with “0.315”;
(e)	in column (4), replace “9.5%” wherever it appears with “10.5%”;
(f)	in column (5), replace “0.21” with “0.225”; and
(g)	in column (5), replace “7%” wherever it appears with “7.5%”.

[G.N. Nos. S 321/2007; S 506/2007; S 745/2007; S 146/2008; S 513/2008; S 153/2010; S 484/2010; S 817/2010; S 507/2011; S 727/2011; S 45/2012; S 275/2012; S 439/2012; S 825/2013; S 859/2014; S 751/2015; S 194/2016; S 719/2017; S 898/2018; S 885/2019; S 348/2020; S 1020/2021; S 1024/2022; S 601/2023]

Made on 19 December 2023.

NG CHEE KHERN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2023; AG/LEGIS/SL/36/2020/24 Vol. 1]

(To be presented to Parliament under section 78(2) of the Central Provident Fund Act 1953).

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