PUBLIC FINANCES
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between 66 per cent and 89 per cent of the rate for non-Common- wealth liquor; locally-produced beer enjoys a further preferential margin over Commonwealth beer. Duty on all types of liquor ranges from $1.60 a gallon on locally brewed beer to $72 a gallon for liquors and spirits of non-Commonwealth origin.
The scale of duties on imported tobacco ranges from $2.50 a pound for Chinese prepared tobacco to $9 a pound on non- Commonwealth cigars. Preferential rates are granted for unmanu- factured tobacco of Commonwealth origin and to cigars, cigarettes and pipe tobacco of Commonwealth origin or manufacture.
The duties on motor spirits and other light oils are $1.50 and 10 cents a gallon respectively. The general rate of duty on heavy oils is $1 a gallon although public omnibus operators and marine and industrial users pay much reduced rates. The rates of duty on table waters and methyl alcohol are 48 cents and $7.50 a gallon respectively.
A new Dutiable Commodities Ordinance No 26 of 1963 was enacted in September and came into operation by proclamation on 16th October 1963. It repealed and replaced the Dutiable Com- modities Ordinance (Chapter 109), enacted in 1931, to which many amendments had been made over the years. In the main, the new ordinance merely consolidates these amendments.
RATES
Rates have been levied in the Colony since 1845 when an ordinance was passed to raise 'an assessed rate on lands, houses and premises 'for the upholding of the requisite Police Force'. The basis of rateable value is the annual letting value of a 'tenement', by which is meant any land or building (or part thereof) held or occupied as a distinct or separate tenancy or under licence from the Crown. The valuation list covers the rating areas of Hong Kong Island, Kowloon, New Kowloon and also a part of the New Territories adjacent to the main road from Lai Chi Kok to Castle Peak. In Hong Kong Island, Kowloon and New Kowloon rates are charged, with a few exceptions, at 17 per cent per annum of rateable value. In the New Territories (outside New Kowloon) the charge is 11 per cent. The valuation list is prepared by the Com- missioner of Rating and Valuation and is frequently revised to