adinat
1
2
3
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
But I hope that we will be able to review the tax
Zveret now and then
allowance po prepesed for our working wives so that
it can catch up with the inflation rate, and attain a reasonable level.
As for the relationship between direct tax and indirect tax, first of all, we must acknowledge one
basic principle of taxation: that is, redistribution
of our resources so that we can have a balanced
allocation of our resources, in particular a lessening
of the financial burden for people in the lower stratum.
خاض معه
Direct tax like inhome tax profit Fox and property tax, have the function of
For buling pace. There will be greated tax landen for higher Duncane class. Indirecting Indirect tax is borne by everyone. If we look at it from
Yet
o resprices.
squally
محمد
increas
the point of social equity, it is inappropriate to indirect tax. It is true that indirect tax is more
avoid of stable and it can supplement the revenue laws resulting
dining economic recession. from a reduction of revenue from direct tax At the same time, the imposition of indirect tax on commodities such as tobacco and alcohol, helps to bring down the sales volume of cigarettes and wine and this may have an
So Jails educational effect, but it does not help to achieve a more- balanced distribution of wealth. The Financial Secretary mentioned the levying of a sales tax. I must voice my strong objection to the proposal, not only from the point. of view of social equity but also from the angle of economic growth on the whole. Sales tax will mean more and hither production
thus weaken the operational/costs and mean less competitiveness for
We cannot overlook, this long-term impact.
#1
Rosher cost of materials
27 Hong Kong Hong Kong is a famous low taxrate free port
and shopper's paradise. If we have to raise the price of our commodities and increase the inflation rate, the reputation of our low taxrate port and shopper's paradise
affected will certainly be lost. As I said, indirect tax will
28
29
30
NP 31
32
33
34
35
36
equally.
be borne by everyone; whether it is to be raised from the wholesale or retail level, it will add to the burden of the lower middle stratum, in particular if we are levying a sales tax for ne
ctaily.
for necessities. Of course, we need
to have the support of our general public before this can