2.
The
will agree that this represents a very remarkable recovery.
revised estimate for 1946-47 actually exceeds the pre-war revenue (exclusive of Income Tax) which amounted to $47,486,000 but it
must be remembered in making the comparison that a number of measures designed to increase revenue were introduced during 1941
and that the full effect of these is only being felt today.
Certain measures to increase Revenue have also already
A surcharge been taken since the re-occupation of the Colony.
4.
of 20 cents per 1,000 gallons in respect of charges for water has been levied. This was estimated to bring in $1,493,000 and
to ensure that a small profit would be made on the supply of water. Costs particularly labour costs have however risen
- ·
since then and a further increase is now under consideration. A
surcharge of 25% has been levied, as an interim measure, on port dues and the question of placing Pilotage dues and Light dues on a tonnage basis instead of on a flat rate is being actively studied. The basis on which mooring buoy dues are levied may
also be changed and this will all help to increase our Revenue, though the full effect will not be felt until probably 1947 by
which time commercial shipping should be using the port on a normal scale. Railway fares between Hong Kong and Canton have
been raised with a resulting increase in Revenue from the British Section. It is proposed to undertake a comprehensive
review of licence fees as a number of these could be increased
without causing hardship. The additional revenue obtained
would not however be considerable.
5.
The question of resuming the collection of taxes
under the War Revenue Ordinance or of introducing Income Tax
on normal lines has been engaging my attention.
Section 73
of the War Revenue Ordinance provides that no tax shall be
collectable in any year of assessment subsequent to the year