10
39
APPENDIX
STATEMENT OF REVENUE IN THE YEAR 1948/49, UNDER HEADS AND
No. V.
SUB-HEADS AS COMPARED WITH THE ESTIMATES
Heads and Sub-heads.
Estimated.
Actual.
C.
Over the Estimate.
C.
Under the Estimate.
C.
Explanatory Remarks.
40
11
Abnormal demand by local merchants for export (duty paid) to North China and
Korea, and increased local consumption by Motor Vehicles.
Greater demand and checking of smugglers' activities.
Demand underestimated.
6,138,270.44 Forward payments of duty during preceding year reduced current year's revenue. More locally manufactured liquor produced and smuggling activities checked. Many
illicit stills seized during the year.
Duty on medicines raised and increased demands.
Increased manufacture to meet increased demands from the public.
1.-DUTIES,
Import Duty on Hydrocarbon Oils
4,000,000
Liquor
Perfumed Spirits
5,500,000
200,000
Tobacco
25,000,000
Duty on locally manufactured Liquor
2,500,000
8,647,607.05 4,647,607.05
7,262,967.22 1,762,967.22
313,705.19
113,705.19
18,861,729.56
2,754,536.79
254,586.79
ני
Proprietary Medicines and Toilet
Preparations
Table Waters
2,500,000
350,000
2,635,101.98
635,636.58
135,101.98
285,636.58
Total
40,050,000 41,111,284.37 7,199,554.81
6,138,270.44
2. ASSESSED TAXES.
Assessed Taxes (Rates) Hong Kong
JJ
་་
71
Kowloon
N.T.
2
7,500,000 9,567,589.98 2,067,589.98 3,500,000 5,400,928.84 1,900,928.84
15,000
16,191.34
Increased rateable values and large new building programme.
do.
1,191,34
Slightly underestimated.
Total
11,015,000
14,984,710.16 3,969,710.16
3.-INTERNAL REVENUE.
Bets and Sweeps Tax
Dance Halls Tax
Earnings and Profits Tax
Entertainment Tax
Estate Duty
Meals and Liquor Tax
Stamp Duties
2,000,000 4,734,315.20
400,000 374,179.70
40,000,000 40,285,200.31
2,734,315.20
Increased public interest and one extra Sweepstake.
25,820.30 Overestimated.
285,200.31 3,500,000 4,957,070.90 1,457,070.90
2,000,000 3,336,340.73 1,336,340.73 2,750,000 2,856,034.80
106,034.80
7,500,000 13,969,929.54 6,469,929.54
Variable; a close estimate having regard to the total amount involved.
New cinemas and influx of refugees.
More large estates than expected.
Increase in prices and more efficient supervision of restaurants.
Big arrears of 1947/48 Assignments dealt with in 1948/49.
Total
58,150,000 70,513,071.18 12,388,891.48
25,820.30
Carried Forward
109,215,000 126,609,065.71 23,558,156.45
6,164,090.74