40
WEDNESDAY, OCTOBER 14, 1987
MR JACOBS ADDED THAT BOTH CATEGORIES WERE EXEMPTED FROM CHARGE UNDER SECTION 8(1A)(B) AND (18) IF THEY VISITED HONG KONG FOR LE89 THAN 60 DAYS IN A YEAR OF ASSESSMENT.
OF
HE SAID THE GOEPFERT CASE HAD HELPED CLARIFY THE POSITION OF THE SECOND CATEGORY OF TAXPAYERS, WHO OFTEN WOULD BE EMPLOYEES MULTI-NATIONAL COMPANIES WORKING IN HONG KONG.
HOWEVER, MR JACOBS POINTED OUT THAT TAXPAYERS WHO HAD A HONO KONG SOURCE OF EMPLOYMENT AND WHO WERE LIABLE TO DOUBLE TAXATION AS A RESULT OF THEIR RENDERING SERVICES OUTSIDE HONG KONG WOULD NOT BENEFIT FROM THE GUIDELINES ARISING OUT OF THE GOEPFERT CASE.
"THUS IN THE ABSENCE OF AN AMENDMENT TO THE
DOUBLE TAXATION WOULD NOT BE AVAILABLE," HE SAID.
LAW, RELIEF FROM
TO
MR JACOBS POINTED OUT THAT THE BILL WOULD APPLY IN RELATION THE YEAR OF ASSESSMENT COMMENCING APRIL 1, 1987 AND ALL SUBSEQUENT YEARS OF ASSESSMENT.
WHILE NOTING THAT THE RATIONALE INHERENT IN HIS ORIGINAL PROPOSAL REMAINED UNALTERED, MR JACOBS SAID THE PRESENT BILL REPRESENTED A WISER SOLUTION TO THE PROBLEM.
HE THANKED MEMBERS OF THE EXECUTIVE AND LEGISLATIVE COUNCILS WHO TOGETHER WITH REPRESENTATIVES OF THE ACCOUNTANTS PROFESSION, TAX CONSULTANTS, LAWYERS AND CHAMBERS OF COMMERCE HAD GIVEN THE ADMINISTRATION WELL-CONSIDERED AND PATIENT ADVICE DURING THE CONSULTATION PERIOD.
"WHERE TAX IS IN DISPUTE WE CANNOT PLEASE EVERYONE ALL OF THE TIME. BUT I BELIEVE THAT THIS BILL PRESENTS THE MOST SATISFACTORY, EQUITABLE AND CERTAIN WAY FORWARD,'
HE ADDED.
DEBATE ON THE BILL WAS ADJOURNED.
SUPPLEMENTARY FUND SOUGHT
EXPENDITURE CHARGED TO 57 HEADS WAS IN EXCESS
MILLION OF THE SUM APPROPRIATED FOR THOSE HEADS IN FINANCIAL SECRETARY, THE HON PIERS JACOBS, TOLD THE COUNCIL TODAY (WEDNESDAY).
BY $2,413.8 1986-87.
THE
LEGISLATIVE
MOVING THE SECOND READING OF THE SUPPLEMENTARY APPROPRIATION (1986-87) BILL 1987, MR JACOBS SAID THIS WAS BECAUSE SUFFICIENT OFFSETTING ITEMS COULD NOT BE FOUND WITHIN THE HEADS CONCERNED.
/THE EXCESS