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(iv) The Committee also considered the desirability of raising the Betting Tax from 3% to 5%.
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This proposal was discussed by the Committee and also informally by certain members of the Committee with the Secretary and some of the Stewards of the Jockey Club. There are a number of oomplications and it is necessary to bear in mind that the odds on betting at race meetings in Hong Kong are usually so short that course betting is very susceptible to any additional charge.
In view of this, any further increase in the Betting Tax is a matter which requires very careful consideration for, if the tax is increased beyond a certain point, a loss in revenue would be the result. Nevertheless we feel that the proposal to increase the rate of tax is worth pursuing and we recommend that the question should be taken up officially with the Jockey Club as it is essential that that body should be fully consulted and that their co-operation should be enlisted.
(v) The Committee recommend that the licences specified in the schedule annexed to this Report be increased to the amount shown therein and that the new licence for skating rinks indicated in that schedule be instituted.
We have recommended that the licence fee for all ommercial vehicles fitted with pneumatic tyres should in future be the same. fee of $5.00 for commercial vehicles using motor spirit appears to us to be
The present licence totally inadequate.
We estimate that the increase in revenue which will result from these proposals will in a full year amount to $350,000.
TO BE CONTINUED
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