s 20C Reduction of reckonable GHG emissions chargeable to tax
20C. Despite section 16(3), where a taxable facility is eligible for any allowance for any emissions year, the amount of the tax chargeable under section 16(1) for that emissions year is calculated based on the formula (A – C) × B, where —(a)
A and B have the meanings given by section 16(3)(a) and (b), respectively;
(b)
C is the allowance for the taxable facility for the emissions year; and
(c)
(A – C) is rounded up to the nearest metric tonne.[Act 37 of 2022 wef 01/01/2024]
The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.
