17
WIEDZIESDAY, MARCH 19, 1975
TOUCHING ON THE FINANCIAL SECRETARY'S PROPOSAL TO INTRODUCE A DIVIDEND WITHHOLDING TAX NEXT YEAR. MR. WILLIAMS SAID IT WAS MOST DISAPPOINTING THAT IT WOULD TAKE MORE THAN ONE YEAR BEFORE THE THIRD INLAND REVENUE ORDINANCE REVIEW COMMITTEE WOULD BE APPOINTED AND THE VIEWS OF THE PUBLIC ON THIS SIGNIFICANT CHANGE IN THE TAX STRUCTURE COULD DE CONSIDERED.
DESPITE THE FINANCIAL SECRETARY'S PROMISE THAT THE WITHHOLDING TAX WOULD BE A MODEST AND REASONABLE ONE, MR. WILLIAMS FELT IT WOULD STILL BE A CONTENTIOUS ISSUE DECAUSE OF THE UNDERLYING PRINCIPLES INVOLVED AND POTENTIAL INEQUITIES.
BESIDES RATHER COMPLEX LEGISLATION, HE POINTED OUT, IT WOULD MOST DESIRABLY REQUIRE TAX TREATIES WITH OTHER COUNTRIES AND THIS WOULD TAKE TIME.
+
/18