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

Income Tax Act

(Chapter 134, Section 19(1))

O 4

G.N. No. S 181/1982

REVISED EDITION 1990

(25th March 1992)

[25th June 1982]

Citation

1. 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

2. 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

3.—(1) 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.

(2) The Minister may waive any of the conditions specified in sub-paragraph (1).

Recovery of excess initial allowance

4. 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.

[G.N. No. S 181/1982]

LEGISLATIVE HISTORY

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

This Legislative History is provided for the convenience of users of 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. It is not part of this Order.

G. N. No. S 181/1982—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 1982

Date of commencement

25 June 1982

1990 Revised Edition—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

Date of operation

25 March 1992