Property Tax (Valuation by Gross Receipts for Port Facilities) Order

Property Tax Act

(Chapter 254, Section 6A)

Property Tax (Valuation by Gross Receipts for Port Facilities) Order

O 2

G.N. No. S 22/2001

REVISED EDITION 2003

(31st January 2003)

[1st October 1997]

Citation

1.  This Order may be cited as the Property Tax (Valuation by Gross Receipts for Port Facilities) Order.

Definitions

2.  In this Order —

“gross receipts” means the sum total of —

(a) any fees or charges derived from any port operations; and

(b) any other revenue which is derived directly from a port facility;

“port facility” means —

(a) Tanjong Pagar Terminal;

(b) Keppel Terminal;

(c) Brani Terminal;

(d) Pasir Panjang Terminal;

(e) Sembawang Wharves;

(f) Pasir Panjang Wharves; and

(g) [Deleted by S 147/2005]

(h) any other container terminal owned by PSA Corporation Ltd;

“port operations” means the operations carried out at a port facility including the handling of containers and cargo, stevedorage, dockage, pilotage, berthing, unberthing, transhipment, the provision of reefer services, the transportation of passengers by vessel, the rental of equipment and the use of a port facility or any part thereof for profit or reward;

“PSA” means the Port of Singapore Authority established under the repealed Port of Singapore Authority Act (Cap.236, 1985 Ed.);

“PSA Corporation Ltd” means the Port of Singapore Authority Corporation Ltd, a company incorporated under the Companies Act (Cap.50), and its successors and assigns, by whatever name called.

Assessment of annual value

3.  Subject to the provisions of this Order, the annual value of a port facility —

(a) for the period from 1st October 1997 to 31st December 1997 shall be 9% of the gross receipts arising from the port operations carried out at the port facility by PSA in 1996;

(b) for the year 1998 shall be 9% of the combined gross receipts arising from the port operations carried out at the port facility —

(i) by PSA for the period from 1st January 1997 to 30th September 1997 (both dates inclusive); and

(ii) by PSA Corporation Ltd for the period from 1st October 1997 to 31st December 1997 (both dates inclusive); and

(c) for the year 1999 and every subsequent year shall be 9% of the gross receipts arising from the port operations carried out at the port facility by PSA Corporation Ltd in the preceding calendar year.

Assessment of annual value for year of commencement of operations

4.  Where the annual value of a port facility is assessed in the year of commencement of its operations, the annual value shall be based on the annual equivalent of the gross receipts from the port operations carried out at the port facility for that year.

Gross receipts relating to period of less than one year

5.  Where the gross receipts from any port operations relate to a period of less than a year, the annual value of the port facility at which such port operations are carried out shall be based on the annual equivalent of the gross receipts from the port operations for that year.

Assessment of annual value for demolished port facilities

6.  Where a port facility is demolished or ceases to be used as a port during the year in which its annual value is to be assessed, the annual value of the port facility for that year shall continue to be assessed based on the gross receipts from the port operations carried out at the port facility in the preceding year.

Non-application of assessment based on gross receipts in certain circumstances

7.  The Chief Assessor may, in his discretion, determine that this Order shall not apply to the assessment of the annual value of a port facility or any part thereof —

(a) for the year following the year in which that port facility or any part thereof is demolished or ceases to be used as a port;

(b) where the port facility or any part thereof is, or was in the calendar year immediately preceding the year of assessment, leased out by PSA Corporation Ltd; or

[S 877/2014 wef 01/01/2015]

(c) where the port facility or any part thereof has not been used by PSA Corporation Ltd as a port.

Statement of gross receipts

8.  PSA Corporation Ltd shall furnish to the Chief Assessor by 1st July of each year, a statement certified by its chief financial officer showing the gross receipts from the port operations carried out by PSA Corporation Ltd in the preceding year.

[G.N. Nos. S 22/2001; S 147/2005]

LEGISLATIVE HISTORY

Property Tax (Valuation by Gross Receipts for Port Facilities) Order

 

This Legislative History is provided for the convenience of users of the Property Tax (Valuation by Gross Receipts for Port Facilities) Order. It is not part of this Order.
1.	1967 Revised Edition—Property Tax (Approved Development Projects) Order
	Date of operation	:	25 March 1992
2.	G. N. No. S 22/2001—Property Tax (Valuation by Gross Receipts for Port Facilities) Order 2001
	Date of commencement	:	1 October 1997
3.	2003 Revised Edition—Property Tax (Valuation by Gross Receipts for Port Facilities) Order
	Date of operation	:	31 January 2003
4.	G. N. No. S 147/2005—Property Tax (Valuation by Gross Receipts for Port Facilities) (Amendment) Order 2005
	Date of commencement	:	31 March 2003
5.	G.N. No. S 877/2014—Property Tax (Valuation by Gross Receipts for Port Facilities) (Amendment) Order 2014
	Date of commencement	:	1 January 2015