conclusion that the most equitable method of
the
tes rin
attaining is object is the adoption of a
of dues
sliding scale, based upon the sterling value
of the dollar, and Table P of the Merchant
Shipping Ordinance, 1899 has been amended to
bring such a scale into effect as from
midnight on the 31st of March, 1933.
A copy
of a notification on the subject published
in the Hong Kong Govt. Gazette of the 10th of
March 1935, is enclosed.
The new rates have been fixed at a
figure, which when the exchange is at $1 =1/-
will bring in the same revenue as the dues
hitherto in force, with a progressive reduction
as the exchange rises.
the present time
[tomit]
the sterling value of the Mexican dollar is with rugblanton)
stands at 1/3 to 1/4 and the reduction in
taxation under the new scale amounts
20% to
3H.P. The Gor states that
the
he decrease in revenue
will be to some extent set off by savings
in respect of sterling commitments as the
dollar rises.
points
Ale