4.—(1) Subject to paragraph 6, there shall be a remission of —| (a) | in the case of any premises referred to in paragraph 3(1) owned and let by a statutory board specified in the Second Schedule 10% of any payment made in lieu of tax under section 6(7) of the Act; and | | (b) | in the case of any other premises referred to in paragraph 3(1), the aggregate of —| (i) | the first $2,000 of the tax payable on the annual value attributable to the premises; and | | (ii) | in respect of the amount of tax payable which exceeds $2,000 on the annual value attributable to the premises —| (A) | 10% of that amount for premises referred to in paragraph 3(1)(a); and | | (B) | 30% of that amount for premises referred to in paragraph 3(1)(b). |
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| (2) Where there is any material change of use of the premises at any time in the year 2003, the Comptroller may reduce the amount of tax remitted under sub-paragraph (1) as he thinks is proper and reasonable, and the owner shall be liable to repay any tax remitted in excess of this reduced amount. |
| (3) The amount of tax that the owner is liable to repay under sub-paragraph (2) shall be payable and recoverable in the same manner in which taxes are payable and recoverable under the Act. |
| (4) In this paragraph, “tax payable” means the tax that is computed to be payable for the year 2003 after taking into account the Property Tax (Non-Residential Buildings) (Remission) Order 2002 (G.N. No. S 683/2002) and the Property Tax (Non-Residential Buildings) (Remission) Order 2003 (G.N. No. S 120/2003). |
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