PLANÈTE...
Designed with Impeccable taste, this brilliant watch is a tiny miracle of contrasting gold surfaces,
polishod and
hand-engraved
to perfection.
A rare jewel
of good sense, too;
accurate timekeeping with the added luxury of Interchangeable
watch-straps.
UNIVERSAL
GENEVE
ref. 165 433/1, 18 k. gold.
Sale Agents: LAP HENG CO., LTD. HONG KONG SINGAPOR
AUTUORINED DEALERS
HONGNOM
Arland Watch Co, 28 Des Voru Rd., C.
A. Lam WHICH Co., 11 Potninger St...
Budion Watch Co. 104 Queen's Rd., C. Tung trung
Kre, 137 Johnston Rd.,
Ho Kin Kee Which Co., LES Quakes
Lim Yura tong Watch Co., 176 Des You C
Lee On Watch Co.. 134 Quran's Rd., C.
Moue Dini, $5 Quel'1 Rd, C.
Senom Free, Glouranter bid., Padder S.
Kee Watch C. 15t Coven's Ad.C.
Sin Co Led.
Shur Hwo Walchend. C.
Tal Swing Which Co., 19 Des Virve Bd. C
There are
no lighters
like the
NEW
HK$48. (VF-215).
Wo Ken Which Co. Cantess Bldg. Poddar St., C Wing On Ce, Lid. 205.215 Das V
ROC
Tu The Kee, +27 Johnston Rd, Wanha), Min You Bidg. Room 135
KOWLOON
James Com Watches & Jarretty, Champagne Court, Kimberly Ka
Kung Brothers & Co, £19., Maráinar Artate, Nathan
Kowloon Weich Cu.. 224 TR
La Sultan Watch Co, Tham B14., Nathan Rd.
Le Xea Watch Co., 446 Shanghai Sy
Moana kid, 14 Hankow Rd, Ki Tak Anport Branch
KACAU
Tu Fun Witch Co., 101 Avenida Almeads Ribeira
Varaflame
et streamlined
RONSON
RONSON
GAS
Victor
HK$37.
(VR-216)
Quick, clean easy refuelling Ona Butron Multi-Fill gives about a year of lights in normal use,
HK$3.
RONSON MAKUAN
THE WORLD
The santational naw Victor smaller lighters with fingertip Itame control as Varoflame
THE CHINA MAIL, SATURDAY, APRIL 30, 1960.
GREPENT
J GJERG,
ED. A. KELLER & CO, LTD
PARKINSON'S SECOND LAW-3 Go into exile! It's
the safest way of
You must have thought of it
at sometime or other: "How
can I get out of paying tax?" In today's instalment of Professor C. Northcote Parkin-
avoiding tax..
son's highly originot Second. Low, he looks at tax and the ways to avoid it. Professor Parkinson's first "Law,” a blistering and Fundy attack on bureau. cracy, convulsed two continents. In his Second Low he directs his devastating
fire at Government waste and taxation.
ANY scrutiny of British taxa-
tion must leave the student with a sense of wonder that Britain should have survived at all.
Rolls-Royces still effortlessly overtake the other cars on the roads...
Rolls-Royces and Bentleys still effortlessly overtake the other cars on the road. People still send their sons to Eton or Rugby.
That the country has retained er recovered a measure of prus perity is certainly a matter for Burprise. It must be remembered, however, that the effects of over-taxation are not immediate. Empires or countries strangled by their own revenue depart ments do not necessarily collapse at once. The process may take give yachts, time and is not at first per- ceptible,
Time is needed to produce a new generation, one which has been accustomed from childhood to the sense of failure. More Ume is needed to allow this new generation gain high office.
At the mort extravagant resorts the beaches are far from deserted; and the blue waters of the Mediterranean the sails of some quite expen
are thus to be found in Jersey, but in no other public depart- Tangler, Kenya or Bermuda,
this distinction 13 generally recognised,
Places of refuge for the tax- payer are territories where the
тел
It is recognised for this rea-
tax burden is significantly less, son: Income is subject to tax where opportunities exist for In- and rapliat to death duties, vestment or corning and which
a st reflect possess sultable agreement with Britain for the avoldunice of double-taxation.
The days of financial privilege may be passing but they clearly have not passed,
Frustration
Tottering
...Altxt evityme will be support- top a small suburban wife.
ilon
than youth. The older directors and surgeons, authurs and managers mostly enjoy the advantage of having made money before 1939; or even,
in some Instances, before 1909.
They had made their capital before taxation became ruinous. An the younger men ure peanlised, by contrast, for being born too late in thic century.
For people with capital to preserve, the problemi. is not insoluble. Their first precaution must be to give everything away to their heirs by deed of Hift contriving to live there- afler for a minimum period of five years.
The chief, objection 10 this policy derives from the difficulty of knowing when death will
occur.
It is therefore the object of this relatively the tax avolder to have no i5-
The Impatient heir might she transaction Laking pleen when his father reaches the age 55, while the father (with
Territories fulfilling these basic conditions are few, and of these few the ma come (but merely capital) while jority, perhaps, have drawback he lives, no capital (but merely when the decision lles) might
Income) when he dies.
think it premature to lake such
of their own such as earth- quakes, Communists, cock- ronches, colonial officials, centi-
The tax collector's point of a drastic step before reaching his pedes, fevers, sociologists and view is exactly the opposite. He 70th birthday. Even then the memory will
see nothing but income during linger for a while of past enter has produced in England
Contemplation of this spectacle snaker.
the
the victim's life and nothing but prise that was not merely legal
capital at his death, Even who have come to be described as angry young men.
اعادة
honourable, of past people endeavours which ended not with fiscal penally but with public recognition.
Mediocrity
Men will look to the future even after the future has been mortgaged. To deprive them of hope takes time.
But long before that stage the combined effect of income lax and death duty should have to a dull level reduced society of financial mediocrity.
4
Almost everyone in Britain' and the United States should be Hiving in small suburban
small luuse with a
suburban garden, drawing a small sub- urban Income and supporting a small suburban wife.
They would seem to represent a class of people whose school and university education, pro- vided at state expense, has pre- pared them 'only for frustration,
the most apparently idyllic island can become the target for missionary activity or ballistic missiles.
Nevertheless this simple method of tax avoidance is open to all at the price of exiic, and. open to companies as well as to
To reconcile there diametrical- ly opposite views within the strained and tottering frame work of the law is definitely a task for the expert.
•
One fact apparent at the out set is that capital is more easily Assured in youth that the individuais,
preserved that income. That is peerage is. being taxed out of Much of the British merchant. why the English aristocracy has existence, and that the Etonlan marine sails thus under Greek become more exclusive, perhaps, has no place in democratic
ownership and files the brave, than ever before. suciely, these Red brick, battletom ensign of Nicaragun graduates find that it is they or Panaraa. themselves who have no placò.
Distinction
Their frustration assumes literary form and they speak bitterly of the "wx dodgers" whore continued prosperity is at once mysterious and unwelcome. interests, tastes or health com
For those whose business
Or
To found A county family, complete with estates and castle, peerage and park, is now virtual- ly impracticable.
Second load
When such talber dies at the age of 74, as seems inevit- able, its son and heir is all too apt to burst a blood vessel, thus incurring a second lend of death duties before the first has ever been assessed.
Those who visit the stately hemes of England are often told that the Duke i bed-ridden or that the Marquess's bath-chair may be glimpsed on the distant terrace.
They are correct in conclud- Ing. as they always do. that the Marquess died sume time ago. To retain the inherited post- that the bath-chair contains a lion is not easy, but it now dummy fcure, and that the means the maintenance of what nobleman's body has been placed refrigerator (family model) until such time as the no one else can ever have again. in
The social value of nobility is death can be safely announced, therefore increasing to the It is for this reason that meny
Those who speak sardonically pel them to stay in Manchester, about tax dodgers reveni only Wellington or Montreal, the pro- their IguaraNQU of the entire blem is not as simple. subject. Taxus cannot be dodged.
It would not be too much to annoyance of the angry young people prefer the alternative They can be either avoided or say that the tax situation is apt men, and even the great house is method of vesting the whole evaded, depending upon whether
company, which will not die. the method used is legal or not, to be complex, uncertain, obscure nowadays less of a burden and property in privately owned
and confused. First of all, it must be under- increasingly famillar. But there stood that the baste method of are reasons for supposing that, tax avoidance is to leave the and distin- clsewhere, the theory, still differs country. Wealthy
guished man of British origin from the fact,
Of parts of Australia this could almost be said to be true, and there are other countries in which this pattern of life is
Four D. Jones] BY MADDOCKS
OKAY, OKAY, I'LL SEE THEM, SELLING
BOMBS INDEED
more of an asset.
Aunid the obscurities there The old families are unassail- looms one fundamental principle; ably situated as compared with the distinction between capital the new. und income. In the department In much the same way, age concerned with tax collection - generally is in a stronger posi-
'NOW, SIR, I'VE NO TIME TO, WASTE, HÄVER YOU SAMPLES.
WITH YOU?
LISTEN, MATE, I HAPPEN TO OWN THE WORLD'S ENTIRE STOCK
OF BOMBS, BUT IF YOU WANT A SAMPLE,
I COULD...
STOP!
SAY NO MORE, 1 SIR. ILL TAKE
YOUR WORD FOR IT
FERDINAND
YLAUTY HOPPE
By Mik
BRICK BRADFORD
Wednesday:
YOUR INCOME
-Londo Express Service 1.
Sheaffer's
Newest
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AVAILABLE AT
ALL GOGð stürk,
Ah! That Food! That Servic! That Swrissait!
SWBSAIR
SADE FLIES TO THE TOP DR THE CUFF ON THE POWER PACAM....
I'LL SEND THE POWER PACK BACK
NOW, BRICK!
HERE IT COVES,
SHAKE IT OVER THE KNOTE.IN THE LINE
THATS FINE, BADIE? EASY
·POES IT!
By Past Norris
IF I DON'T IT TO YOU
YOU'LL BE SINKING, IN
TAR!
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TARİCKİ, İLL
ORD
ILFORD