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FAQ : 2008-09 Budget - Tax Concessions : Waiving of Business Registration Fees

1.

Would the waiving of business registration fee apply to applications made during 1 April 2008 to 31 March 2009 for a certificate that commences after 1 April 2009?[Answer]
2.
Would the waiving of business registration fee benefit those businesses holding a 3-year business registration certificate or branch registration certificate with an expiry date on or after 31 March 2009? [Answer]
3.
Would the levy for the Protection of Wages on Insolvency Fund continue to be payable? [Answer]

 

Concessionary Refund of Registration Fee Paid

 

4.
Who will be eligible for the concessionary refund of the 2008-09 business registration fee or branch registration fee paid? [Answer]
5.
When can eligible businesses apply for the concessionary refund? [Answer]
6.
How to apply for the concessionary refund? [Answer]
7.
How is the amount of the concessionary refund going to be calculated? [Answer]
8.
I have paid levy for the year 2008-09. Will the levy also be refunded to me? [Answer]


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Questions and Answers
1. Q:

Would the waiving of business registration fee apply to applications made during 1 April 2008 to 31 March 2009 for a certificate that commences after 1 April 2009?

A:

No. The waiver only applies to fees payable in respect of business registration certificates and branch registration certificates with commencement date within the year 2008-09. The eligibility for the waiver depends on the commencement date of the registration certificate, not the date of application for business or branch registration.

   
 
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2. Q:
Would the waiving of business registration fee benefit those businesses holding a 3-year business registration certificate or branch registration certificate with an expiry date on or after 31 March 2009?
  A:
In order that businesses holding a 3-year certificate that have paid registration fee for 2008-09 but are not required to renew their registration certificates in the year 2008-09 can also benefit from the concession, concessionary refunds will be allowed to them. (Please refer to Q4 for details of the eligibility for the concessionary refund.)
   
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3. Q:

Would the levy for the Protection of Wages on Insolvency Fund continue to be payable?

A:

Yes. Businesses are still required to pay the levy for the Protection of Wages on Insolvency Fund.
   
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Concessionary Refund of Registration Fee Paid

 

4. Q:

Who will be eligible for the concessionary refund of the 2008-09 business registration fee or branch registration fee paid?

 

A:

Concessionary refund of the relevant amount of business registration fees paid for the year 2008-09 will be allowed to the following businesses, upon their applications:

(a) businesses holding 3-year certificates with expiry dates on or after 31 March 2009; or

(b) businesses whose business or branch registration certificates expire between 1 April 2008 and 31 March 2009 but are not required to renew their registration certificates because of cessation of business.

   
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5. Q:

When can eligible businesses apply for the concessionary refund?

A:

Applications for the concessionary refund must be submitted to the Business Registration Office on or before 30 September 2009.
   
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6. Q:
How to apply for the concessionary refund?
  A:

The applicant needs to complete and return the duly signed application form IRBR188 to the Business Registration Office by post or in person. In order to ensure the authenticity of the applications received, submission by facsimile transmission is not acceptable.
   
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7. Q:
How is the amount of the concessionary refund going to be calculated?
  A:

The refund amount, which shall not be more than $2,000 and $73 for a business and branch registration certificate respectively, is computed on a pro-rata basis by reference to the number of days of the certificate's overall validity period and that falls inside the year 2008-09. In the case of a 3-year certificate, since the fee paid for each year is different, computation of the refund amount also has to take into account which period within the 3-year the 2008-09 validity period falls. For details, please see Computation of the Refund Amount.
   
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8. Q:
I have paid levy for the year 2008-09. Will the levy also be refunded to me?
  A:

No. The levy is for the Protection of Wages on Insolvency Fund. It will not be refunded.
   
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2003 | Important notices | Privacy policy Last revision date: 15 August 2008