-
3-
71.
E. The imposition of a further surcharge of
twenty five per cent on various port dues with
the exception of steamship survey fees.
F.
G.
A tax on the increment on the value of property
to be assessed at ten per cent of the excess in
all cases where the property is sold for a higher
figure than the value of the consideration
attributable to such property on the last
conveyance of sale there of after the 1st January,
1938.
Certain increases on a wide range of licence
fees. Those fees which were due for payment on
the 1st January have already been increased and
steps are shortly being taken to amend those which
fall due for payment at the beginning of July.
5.
Actual receipts from import duties on liquor and
tobacco for the eleven months ended 31st March, 1947,
including four months with duties at the new rates, amounted
to $7,293,494 and $20,724,440 respectively. The receipts
from tobacco were on an abnormally high level as, owing to
difficulties in obtaining certificates from the Chinese
Customs in order to qualify for a drawback, Hong Kong duty
was paid on large quantities of cigarettes which passed
through the Colony in transit. It is unlikely that this
will happen to anything like the same extent during the
present financial year, and a figure of only $23,000,000
has therefore been included in respect of tobacco duties
in the revenue estimate for the current year. Although
duty will in future be payable by N.A.A.F.I. on their
sales of liquor, a conservative view has been taken of
the probable revenue from liquor duties during the coming
These have only been estimated at $8,500,000 as
year.