Pneumoconiosis Compensation Fund Board

Levy Assessment Procedures

It is the contractors' and quarry operators' responsibilities to pay levy to the Pneumoconiosis Compensation Fund Board. The Board will best utilise the fund to perform her statutory duties.

PLEASE PAY THE LEVY ON TIME

• Contractor and authorised person to submit Form 1 within 14 days after any construction operations / works has begun

• Contractor to submit Form 2 within 14 days after receiving a payment or an interim payment

• Contractor and authorised person to submit Form 3 within 14 days after the completion of work

• The Fund Board shall assess the amount of levy* due from the contractor in respect of the construction operations / works or the stage of construction operations / works. A demand note will be issued.

  (Levy rate: 0.25% - applies to construction operations / works the tenders for which were submitted from 18 June 2000 to 19 Aug 2012.)
  (New levy rate: 0.15% - applies to construction operations / works the tenders for which were submitted on or after 20 Aug 2012.)

• The contractor shall settle the payment within 28 days after receipt by him of the demand note.

  A surcharge, not exceeding twice the amount of the levy so assessed, shall be imposed if the contractor fails to report details of payment within the above time frame
  If the levy is not settled before the due date, a 5% penalty will be imposed on contractor
  If the levy and / or penalty is not settled within 3 months of the original due date, a further 5% of the outstanding amount, or $1,000, which ever is the greater, will be imposed on the contractor