WEDNESDAY, JULY 9, 1980
IN REPLY TO MR NEWBIGGING, THE ACTING CHIEF SECRETARY, THE HON SIR PHILIP HADDON-CAVE POINTED OUT THAT ALTHOUGH RETROSPECTIVITY IN FISCAL LEGISLATION WAS UNUSUAL, IT WAS BY NO MEANS UNIQUE.
HE QUOTED EXAMPLES IN AUSTRALIA, NEW ZEALAND AND SOUTH AFRICA AND POINTED OUT THAT IN HONG KONG MANY TAX CONCESSIONS INTRODUCED FROM TIME TO TIME, INCLUDING THE RECENT INCREASES TO PERSONAL ALLOWANCES BACKDATED TO APRIL 1, 1979, APPLIED TO THE PREVIOUS YEAR'S TAX LIABILITY.
FURTHERMORE, IN THE CASE OF THIS BILL, HE THOUGHT RETROSPECTIVITY WAS BOTH PROPER AND CORRECT, +AS WE ARE DEALING WITH AN AVOIDANCE DEVICE, WHICH, INCIDENTALLY, HAS ARISEN NOT THROUGH AN OVERSIGHT, BUT THROUGH A GENUINE DESIRE ON THE PART OF A BENEVOLENT TAX ADMINISTRATION TO PROVIDE ADEQUATE TERMINAL RELIEF TO BONA FIDE CESSATIONS FOLLOWING THE CHANGE IN THE BASIS OF ASSESSMENT FOR PROFITS TAX IN 1975-76,+ SIR PHILIP SAID.
HE SAID HE WAS UNABLE TO AGREE TO A FURTHER ADJUSTMENT TO THE EFFECTIVE DATE OF THE BILL AS SUBSTANTIAL SUMS OF REVENUE WERE AT STAKE FROM COMPANIES WHICH HAD CEASED BUSINESS IN 1979-80.
ON ANOTHER POINT RAISED BY MR NEWBIGGING, SIR PHILIP SAID HE COULD NOT AGREE THAT THE RETROSPECTIVITY PROPOSAL WOULD UNDERMINE THE GOVERNMENT'S CREDIBILITY.
+THIS GOVERNMENT HAS A RECORD OF CONSISTENCY AND STABILITY IN ITS FISCAL POLICIES. AND, IN ANNUAL BUDGET SPEECHES, I HAVE BEEN AT PAINS TO SKETCH OUR POSSIBLE AMENDMENTS TO REVENUE LEGISLATION OVER THE FOLLOWING YEAR OR TWO.
+THESE AMENDMENTS HAVE BEEN THOSE I HAVE CONSIDERED NECESSARY TO MEET OUR FISCAL NEEDS, AS WELL AS THOSE STEMMING FROM THE GOVERNMENT'S VIEWS ON RECOMMENDATIONS OF THE THIRD INLAND REVENUE ORDINANCE REVIEW COMMITTEE, HE SAID.
PARA-MEDICAL BILL PASSED WITH AMENDMENTS
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THE SUPPLEMENTARY MEDICAL PROFESSIONS BILL AIMING AT ESTABLISHING A SYSTEM OF CONTROL AND REGULATION OVER PROFESSIONS SUPPLEMENTARY TO MEDICINE TO PROTECT THE PUBLIC WAS PASSED BY THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) WITH A NUMBER OF
AMENDMENTS.
THE CHANGES WERE RECOMMENDED BY AN AD HOC GROUP OF UNOFFICIALS CONVENED BY DR THE HON HARRY FANG AFTER IT HAD MET FIVE TIMES, THREE OF WHICH WITH GOVERNMENT OFFICIALS, SINCE MAY THIS YEAR.
SPEAKING AT THE RESUMED DEBATE, DR FANG POINTED OUT THAT BILL HAD ENCOUNTERED CONSIDERABLE DIFFICULTIES IN THE DRAFTING STAGE AND HAD TAKEN THE GOVERNMENT SIX TO EIGHT YEARS TO HAVE IT INTRODUCED INTO THE LEGISLATIVE COUNCIL.
/+THE