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Tax Procedures Code Act (Cap 343)provision pendingFY2023/24Tax Procedures Code (Amendment) Act 2023 (Act 22 of 2023)

Case file TPC-2023-WAIVER

Interest and penalties at June 2023 waived where the principal tax is paid by December 2023

Highest rung reached: Verified lawLaw: read in a statutory textAdministration · Compliance

2 points pending verification

  • What the waiver cost and what it collected.
  • The FY2023/24 budget speech and its forecast; URA prints yields by tax head only for this year.
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Law

Principal Act
Tax Procedures Code Act (Cap 343), enacted as Act 14 of 2014
Amending Act
Tax Procedures Code (Amendment) Act 2023 (Act 22 of 2023) (verified)
Provision, revised numbering (2023 revision)
pending verification
Provision, numbering before the revision
s. 40D
Principal Act dates
assent 2014-10-19; commencement 2016-07-01
Amending Act in force from
1 July 2023 (assented 17 August 2023; gazetted 25 August 2023)
Tax heads and taxpayers affected
Tax administration, All. Taxpayers with arrears at 30 June 2023.
Status
Legal: pending verification. Implementation: pending verification.

The wording in force

s. 40D(1)
as at 2023-07-01

40D.Waiver of interest and penalty on payment of principal tax (1) Any interest and penalty outstanding as at 30th June, 2023, shall be waived where the tax payer pays the principal tax by 31st December, 2023. Verified law: Wording or a date read in a statutory text, with the version and page named.[ACT-TPC-2023-22, PDF page 20, s. 5]

Redline pending verification

The wording before this amendment was not read, so no redline is drawn. The amending Act, or the consolidated text as it stood the year before, would supply it.

Evidence classes: § Verified law · ○ Observed · = Derived · → Official forecast · ← Reported yield · ≈ Modelled estimate · ⇒ Causal estimate · ~ Association · ¶ Interpretation · ? Hypothesis · + Proposed reform · ! Unverified. Hover or focus a mark for its definition.