INLAND REVENUE (AMENDMENT) BILL 1988
Explanatory Memorandum
The purpose of this Bill is to amend the Inland Revenue Ordinance to give effect to the proposals in the 1988 Budget to
(a) reduce the standard rate of tax chargeable under the Ordinance
from 163% to 151% (clause 7);
(b) reduce the rate of profits tax payable by corporations from 18% to
17% (clause 3);
(c) revise the graduated scale of tax rates specified in the Second
Schedule to the Ordinance (clause 8);
(d) increase the amount of certain of the allowances permitted by section 42B of the Ordinance to be deducted in assessing income liable to taxation (clause 4);
(e) introduce a further allowance under section 42B of the Ordinance applicable where a wife's income is aggregated with that of her husband (clause 4).
2. The Bill has no Public Service staffing implications. It is estimated that implementation of these proposals will result in a loss to the general revenue of approximately $1,780 million in the 1988/89 and thereafter of approximately $2,790 million a year at present levels of chargeable income.
1988年稅務(修訂)條例草案
摘要說明
本條例草案目的在於修訂稅務條例,以實施1988年政府收支預算案的
建議。本草案規定一
(a)
將原有條例規定徵收的標準稅率,由161%減為15%(草案第7條);
(b)
將公司利得税税率,由18%減爲17%(草案第3條);
(c)
修訂原有條例第二附表所列明的税率漸進表(草案第8條);
(d)
把若干項免稅額提高,該等免稅額是原有條例第42條准許在評估應課 稅入息時予以扣減者(草案第4條);
(e)
在原有條例第42B條下加列另一項免稅額,在妻子的入息與丈夫的入息 合併計算時可予適用(草案第4條)。
2.
本草案對政府人手需求方面並沒有影響。就目前應繳稅入息水平來說, 實施上述各項建議,估計會使政府在1988至89年度的一般收入減少約 $1,780,000,000,而其後每年減少約$2,790,000,000~
。