Section 42 — Payment of MTT

(1)A responsible member that has furnished a return under section 41(1) for a financial year must, no later than one month after the due date in that provision, pay to the Comptroller, without demand and in the manner determined by the Comptroller, any MTT payable for the financial year, as set out in that return.

(2)The payment must be made in Singapore dollars.

(3)The Comptroller may, in his or her discretion and subject to such terms and conditions (including the imposition of interest) as he or she may impose, allow an extension of time for making the payment.