§ 19 — Refund of tax, etc.

19.—(1) Where —(a)

a registered person has surrendered fixed‑price carbon credits, or both fixed‑price carbon credits and eligible international carbon credits, for any tax charged in relation to a taxable facility of the registered person; and[Act 37 of 2022 wef 01/01/2024]

(b)

the tax charged is reduced as a result of —(i)

any relief or remission given to a registered person under section 18; or

(ii)

any revision under section 23 to an assessment of tax,

the registered person may apply to the Agency for a refund of the amount of tax so reduced.

(2) For the purpose of subsection (1), if —(a)

the registered person continues to hold an FPCC registry account for the taxable facility; and[Act 37 of 2022 wef 01/01/2024]

(b)

the revision was to correct an error that was not on the part of the Agency,

then, the Agency must effect the refund by crediting the FPCC registry account for the taxable facility with the number of fixed‑price carbon credits with a total carbon price equal to the amount of tax so reduced.

[Act 37 of 2022 wef 01/01/2024]

(2A) To avoid doubt, the fixed-price carbon credits refunded under subsection (2) must be at the carbon price applicable for the purchase of fixed‑price carbon credits in the year in which the refund is made.[Act 37 of 2022 wef 01/01/2024]

(2B) Where the amount of the refund results in there being a fraction of a fixed‑price carbon credit mentioned in subsection (2A), the resulting number of fixed‑price carbon credits is to be rounded down to the nearest whole number of such fixed‑price carbon credits.[Act 37 of 2022 wef 01/01/2024]

(2C) No claim may be brought against the Government or the Agency for any value represented by the fraction of a fixed‑price carbon credit mentioned in subsection (2B).[Act 37 of 2022 wef 01/01/2024]

(3) An application under subsection (1) must be made within 4 years after the date on which the relief or remission is given, or the revision is made, as the case may be.

(4) Where any refund has been erroneously made or any fixed‑price carbon credit erroneously credited pursuant to subsection (1) or (2), the registered person refunded or whose FPCC registry account was credited with the fixed‑price carbon credit must pay to the Agency an amount equal to the amount of the erroneous refund or the carbon price of the fixed‑price carbon credit erroneously credited, upon demand being made by the Agency within 4 years after the date of the erroneous refund or credit.[Act 37 of 2022 wef 01/01/2024]

(5) Nothing in this section operates to extend any time limit for an appeal or to validate any objection or appeal that is otherwise invalid, or to authorise the revision of any assessment or other matter that has become final and conclusive.

—(1) Where —(a)

a registered person has surrendered fixed‑price carbon credits, or both fixed‑price carbon credits and eligible international carbon credits, for any tax charged in relation to a taxable facility of the registered person; and[Act 37 of 2022 wef 01/01/2024]

(b)

the tax charged is reduced as a result of —(i)

any relief or remission given to a registered person under section 18; or

(ii)

any revision under section 23 to an assessment of tax,

the registered person may apply to the Agency for a refund of the amount of tax so reduced.

(2) For the purpose of subsection (1), if —(a)

the registered person continues to hold an FPCC registry account for the taxable facility; and[Act 37 of 2022 wef 01/01/2024]

(b)

the revision was to correct an error that was not on the part of the Agency,

then, the Agency must effect the refund by crediting the FPCC registry account for the taxable facility with the number of fixed‑price carbon credits with a total carbon price equal to the amount of tax so reduced.

[Act 37 of 2022 wef 01/01/2024]

(2A) To avoid doubt, the fixed-price carbon credits refunded under subsection (2) must be at the carbon price applicable for the purchase of fixed‑price carbon credits in the year in which the refund is made.[Act 37 of 2022 wef 01/01/2024]

(2B) Where the amount of the refund results in there being a fraction of a fixed‑price carbon credit mentioned in subsection (2A), the resulting number of fixed‑price carbon credits is to be rounded down to the nearest whole number of such fixed‑price carbon credits.[Act 37 of 2022 wef 01/01/2024]

(2C) No claim may be brought against the Government or the Agency for any value represented by the fraction of a fixed‑price carbon credit mentioned in subsection (2B).[Act 37 of 2022 wef 01/01/2024]

(3) An application under subsection (1) must be made within 4 years after the date on which the relief or remission is given, or the revision is made, as the case may be.

(4) Where any refund has been erroneously made or any fixed‑price carbon credit erroneously credited pursuant to subsection (1) or (2), the registered person refunded or whose FPCC registry account was credited with the fixed‑price carbon credit must pay to the Agency an amount equal to the amount of the erroneous refund or the carbon price of the fixed‑price carbon credit erroneously credited, upon demand being made by the Agency within 4 years after the date of the erroneous refund or credit.[Act 37 of 2022 wef 01/01/2024]

(5) Nothing in this section operates to extend any time limit for an appeal or to validate any objection or appeal that is otherwise invalid, or to authorise the revision of any assessment or other matter that has become final and conclusive.