- 12 -
27
Interest Taxqquarterly instead of by separate payments from
time to time on behalf of each individual.
29.
During the year, 2,206 demands were issued to a
total of $381,307.01.
COLLECTION:
30. A net total of $14,134,951.06, as detailed in the
accompanying schedule, was collected during the year. Until
8th December, 1947 all collections were paid into the Treasury.
This was unsatisfactory as it was difficult to observe the
obligation of secrecy imposed by section 4 of the Ordinance.
On 9th December, 1947, however, a Cash Register became available
and all collections, other than those of Property Tax and
assessments by the Colonial Income Tax Office in London, now
pass through the Collection Section of the Department.
Property Tax:
31. Of the $2,314,138.44 of Property Tax assessed, a
total of $2,312,209.20 was collected during the year leaving.
$1,929.24 outstanding at 31st March, 1948. of this latter
sum amounts totalling $711.30 were not finally due for payment
until after 31st March, and the true arrears, including penalties,
amounted to $1,217.94 only, comprising:-
Hong Kong Kowloon
NIL
8 Demands
$1,215.94
New Territories:
Tai Po
1 Demand
2.00
Ping Shan
Tsun Wan
NIL NIL
9 Demands
$1,217.94
32.
Refunds were made during the year to the amount of
$6,101.29 and Property Tax to the amount of $74,576.11 was
set off against Profits Tax, the true net revenue from Pre--
Tax being therefore $2,231,531.80.
Profits Tax:
33. The net collection of Profits Tax during the year
was $10,712,047.27, as under: