11
་
and to Mr. R. R. Todd who as Secretary to the Committee has kept full minutes of our meetings and who is largely responsible for the manner in which our Report is presented.
14th February, 1940.
(Signed) C. G. ALABASTER (Chairman),
H. R. BUTTERS.
STANLEY H. DoDWELL.
M. K. Lo.
LEO D'ALMADA E CASTRO, JNR.
(subject to the attached Reservation)
LI TSE-FONG
W. N. T. TAM.
V. M. GRAYBURN.
D. J. SLoss.
DAVID F. LANDALE,
R. ROBERTSON.
LAWRENCE KADOORIE
(subject to the attached Reservation)
E. M. BRYDEN.
NG CHAK-WA.
T. BLACK
(subject to the attached Reservation)
Reservation by the Honourable Mr. Leo D'Almada e Castro, Jnr.
It is not without some misgiving that I am a signatory to this Report. Having been convinced that a full income tax would have endangered the Colony's prosperity, wherefore, in common with other Unofficial Members of the Legislative Council, I opposed its introduction, I am doubtful whether the taxes now proposed will not have a somewhat similar effect, at least in so far as they will be a deterrent to the introduction of fresh capital into Hong Kong.
14th February, 1940.
(Sd.) LEO D'ALMADA E CASTRO, Jnr.
Reservation by Mr. Lawrence Kadoorie.
BUSINESS PROFITS TAX.
While recognizing the force of the argument that "on grounds of equity such a tax must be imposed if there is to be a Corporation Profits Tax", it still remains, in my opinion, a tax of such inquisitorial effect and of such widespread and complex application and difficulty of administration that it should be left out of the Bill.
Page 15Page 16