TUESDAY, JANUARY 2, 1979
JANUARY 27 DEADLINE FOR PAYING RATES
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THE TREASURY REMINDED RATEPAYERS TODAY (TUESDAY) THAT RATES FOR THE FIRST QUARTER THIS YEAR SHOULD BE PAID ON OR BEFORE JANUARY 27.
A SPOKESMAN FOR THE TREASURY SAID A SURCHARGE OF FIVE PER CENT WOULD BE IMPOSED ON LATE PAYMENTS. A FURTHER SURCHARGE OF 10 PER CENT MIGHT BE ADDED TO THE AMOUNT, INCLUDING THE INITIAL FIVE PER CENT IF LATE PAYMENTS WERE STILL NOT PAID SIX MONTHS AFTER THE DUE DATE.
THE SPOKESMAN SAID RATEPAYERS SHOULD HAVE BY NOW RECEIVED DEMAND NOTES AND THOSE WHO HAVE NOT SHOULD APPLY FOR A COPY AT THE RATES SECTION OF THE TREASURY, ROOM 203, HANG CHONG BUILDING, SECOND FLOOR, 5 QUEEN'S ROAD CENTRAL, HONG KONG.
+NON-RECEIPT OF THE DEMAND NOTE DOES NOT ALTER THE REQUIREMENT THAT THE RATES SHOULD BE PAID BEFORE THE DUE DATE, HE ADDED.
THE SPOKESMAN ADVISED RATEPAYERS TO PAY BY CHEQUE OR MONEY ORDER BY POST OR BY EARLY PERSONAL ATTENDANCE AT ANY OF THE DEPARTMENT'S OFFICES TO AVOID QUEUE ING.
HE POINTED OUT THAT RATES WERE PAYABLE ON VACANT PREMISES BUT WERE REFUNDABLE UNDER CONDITIONS SPECIFIED IN THE RATING ORDINANCE.
HOWEVER, HE ADDED, NO REFUNDS WOULD BE PAYABLE IN THE CASE OF A VACANT TENEMENT LAST USED, OR INTENDED TO BE USED, WHOLLY OR PRIMARILY FOR DOMESTIC PURPOSES (UNLESS VACANT BY REASON OF AN ORDER OF THE GOVERNMENT).
TAX EXEMPTION ON INTEREST RAISED
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INTEREST PAYABLE BY LICENSED BANKS, BY PUBLIC UTILITIES AND BY THE GOVERNMENT AT RATES OF UP TO 5-1/4 PER CENT PER ANNUM WILL BE EXEMPTED FROM INTEREST TAX FROM TODAY (TUESDAY), A GOVERNMENT SPOKESMAN SAID.
HE SAID THIS REPRESENTED AN INCREASE OF 3/4 PER CENT IN THE EXEMPTION LIMIT AND FOLLOWED THE ANNOUNCEMENT BY THE EXCHANGE BANKS' ASSOCIATION LAST THURSDAY THAT THE RATE OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE SIMILARLY RAISED TO 5-1/4 PER CENT ALSO WITH EFFECT FROM TODAY.
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