12
82
COLONY OF
HONG KONG.
Statement of Revenue in the Year 1949/1950, under
Heads and Sub-heads.
Estimated.
Actual.
13
Heads and Sub-Heads as Compared with the Estimates.
Increase.
$
1.—DUTIES.
1. Import Duty on Hydrocarbon Oils
5,750,000
2.
Liquor
3.
"
4.
Perfumed Spirits
Tobacco
6,000,000
250,000
16,250,000
13,186,477.41
9,917,948.03
7,436,477.41
3,917,948.03
411,973.26
"
35,449,009.23
161,973.26
19,199,009.23
5. Duty on
Liquor
locally manufactured
2,500,000
3,977,900.56
1,477,900.56
6. Duty on Proprietary Medicines
and Toilet Preparations
2,500,000
3,779,572.39
7. Duty on Table Waters
1,000,000
2,074,182.12
1,279,572.39
1,074,182.12
Total
34,250,000
68,797,063.00
34,547.063.00
2. ASSESSED TAXES,
1. Assessed Taxes (Rates) Hong
Kong
2. Assessed Taxes (Rates) Kowloon
3. Assessed Taxes (Rates) N.T.
10,000,000
5,500,000
16,300
11,988,203.86
7,274,440.06
1,988,203.86
1,774,440.06
24,198.90
7,898.90
Total
15,516,300
19,286,842.82
3,770,542.82
3.-INTERNAL REVENUE,
Decrease.
1. Bets and Sweeps Tax
2. Dance Halls Tax
3,500,000 375,000
6,027,673.15
į
626,064.20
2,527,673.15 251,064.20
3. Earnings and Profits Tax
40,000,000
38,817,595.66
1,182,404.34
4. Entertainment. Tax
3,500,000
7,423,641.13
5. Estate Duty
2,000,000
2,936,066.44
3,923,641.13
936,066.44
Carried Forward
49,375,000
55,831,040.58
7,638,444.92
1,182,404.34
Carried Forward
49,766,300
88,083,905.82
38,317,605.82
Explanatory Remarks.
Greater demand and larger exports to
interior of China.
Greater demand from the public due
to population increase.
Increased number of factories and
greater local demand,
Increased rate of tobacco duty and more consumption of the cheaper brands of cigarettes.
More manufactured liquor produced to cope with the increased public demand.
Greater demand by the public
(increased population).
Increase of duty from 24 cts. to
48 cts.
Increased assessments and new
buildings.
Increased assessments and new
buildings.
Increase in number of rateable
properties.
More Cash Sweep tickets sold. Better business owing to increase in
population.
Dislocation caused by the necessary though temporary removal of cer- tain records from the Department. Better business and more theatres
owing to increase in population. More large estates than anticipated.
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