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WEDNESDAY MAY 1, 1985
MEAT BOUGHT IN CHINA OF GOOD QUALITY
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MEAT BOUGHT BY INDIVIDUAL SHOPPERS IN CHINA AND THEN
BROUGHT INTO HONG KONG WAS GENERALLY OF A GOOD QUALITY AND IT HAD NOT BEEN FOUND NECESSARY TO SUBJECT IT TO HEALTH INSPECTION.
THE CHIEF SECRETARY, THE HON SIR PHILIP HADDON-CAVE, SAID THIS AT TODAY'S LEGISLATIVE COUNCIL MEETING IN REPLY TO A QUESTION BY THE HON SELINA CHOW.
HE POINTED OUT THAT THIS KIND OF SHOPPING IN NEIGHBOUR ING CHINESE TOWNS HAD BEEN GOING ON FOR A LONG TIME.
MOREOVER, THE QUANTITIES INVOLVED WERE SMALL, BEING FOR CONSUMPTION BY THE INDIVIDUALS THEMSELVES AND THEIR FAMILIES, SIR PHILIP SAID.
INTEREST REVENUE DUE LATER THIS YEAR
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REVENUE YIELDS FROM INTEREST RECEIVABLE BY BUSINESS
ENTERPRISES WOULD NOT COME IN UNTIL THE LATTER PART OF THE 1985-86 FISCAL YEAR, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
REPLYING TO A QUESTION BY THE HON RITA FAN, SIR JOHN RECALLED THAT HE HAD SAID IN HIS 1984 BUDGET SPEECH THAT IT WAS INTENDED THAT HIS PROPOSAL SHOULD APPLY ONLY TO INTEREST ACCRUING ON OR AFTER APRIL 1, 1984 AND THAT IT WOULD HAVE EFFECT FOR THE FIRST TIME IN RESPECT OF FINAL ASSESSMENTS FOR 1984-85, WHICH WERE GENERALLY NOT DUE FOR PAYMENT UNTIL MARCH 31, 1985.
THERE WOULD, THEREFORE, HE HAD THEN SAID, BE NO IMMEDIATE ADDITION TO REVENUE.
SIR JOHN EXPLAINED THAT IN ACCORDANCE WITH CURRENT DEPARTMENTAL ROUTINES, 1984-85 (FINAL) AND 1985-86 (PROVISIONAL) PROFITS TAX RETURNS WERE ISSUED ON APRIL 1, 1985 AND WOULD BEGIN TO FLOW BACK TO THE INLAND REVENUE DEPARTMENT AND BE ASSESSED DURING THE FORTHCOMING MONTHS.
+YIELDS FROM THIS SOURCE, WILL NOT, THEREFORE, BEGIN TO COME IN UNTIL THE LATTER PART OF THE 1985-86 FISCAL YEAR.
+AFTER CONSULTING THE COMMISSIONER OF INLAND REVENUE I STICK TO MY ORIGINAL ESTIMATE OF A SIGNIFICANT TOTAL YIELD OF $350 MILLION THIS YEAR, SIR JOHN SAID,
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