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१
X
hat
No. 662
Reuplo 1938 20 $3200,000 "net receifer 1938 &t $770,000
ŘECEIVED
20 SEP 1938
0, 0.
Sir,
59
GOVERNMENT HOUSE,
HONG KONG.
29th August, 1938.
I have the honour to refer to correspondence
4 ending with Mr. Ormsby-Gore's despatch No.41 of 9th
February, 1938, regarding the accounting procedure to
be adopted in connection with Customs and Excise
drawbacks and other refunds of revenue. It had been
the intention to adopt the new system with effect from
1939. When, however, estimates of the amount for
which provision would be necessary were prepared it
appeared that they would make so great a change in the
appearance of the estimates of revenue and expenditure
that I have thought it desirable to seek your further
instructions before proceeding with the introduction
of the new system.
2.
annum.
*
The total estimated refund of revenue on
the basis of present conditions is $13,500,000 per
Of this over $4,000,000 consists of refunds
in respect of tobacco duties largely owing to the development of the manufacture of tobacco in the Colony during the present hostilities in China; and approximately $6,000,000 is accounted for by refunds
of duty on petroleum imported into the Colony for
re-export by road or rail into China.
THE RIGHT HONOURABLE
MALCOLM MACDONALD, M.P.,
·
.TOLISVOJ
६
&c.,
&C.
&C.,
Page