(Written Reply)
Question No. 12
REPLY BY THE FINANCIAL SECRETARY TO A QUESTION BY THE HON. MRS. RITA FAN IN THE LEGISLATIVE COUNCIL ON WEDNESDAY, 25 MARCH 1987
QUESTION :
SINCE THE ENACTMENT OF
OF THE INLAND REVENUE (AMENDMENT)(NO. 2) BILL 1984 ON 6TH FEBRUARY 1985 WHICH PROVIDED CERTAIN DISCRETIONARY POWERS TO THE COMMISSIONER OF INLAND REVENUE IN A CASE OF TAX DISPUTE, WILL GOVERNMENT INFORM THIS COUNCIL THE NUMBER AND TOTAL AMOUNT INVOLVED IN RESPECT OF THE FOLLOWING CASES UP TO FEBRUARY 1987 IN WHICH THE APPELLANT TAXPAYER WAS :
(i) REQUIRED TO MAKE IMMEDIATE PAYMENT IN
CASH;
(ii) REQUIRED ΤΟ PURCHASE TAX RESERVE
CERTIFICATES;
(iii) REQUIRED TO FURNISH A BANK GUARANTEE;
AND
Sir,
(iv)
GRANTED AN UNCONDITIONAL TAX BY THE COMMISSIONER?
HOLDOVER OF
Since the Inland Revenue
(Amendment) (No. 2)
Bill 1984 was enacted in February 1985, some 65 000
objections have been received. It is not possible to give precise figures for each category requested as this would involve extracting the required information from
each and every objection file. However, the estimated,
and actual figures, where available, are as follows -
Category
Number
Amount of tax
involved
(a)
Appellant taxpayers required to make
5 400 (estimated)
Not Available
immediate payment
in cash
(b)
Appellant taxpayers
required to purchase
1 674 (actual)
903,036,767
Tax Reserve Certificates