24
WEDNESDAY, MARCH 2, 1988
MR JACOBS SAID THAT IN THE PAST THREE YEARS THE VALUE OF THE AIR PASSENGER DEPARTURE TAX, AT $120 FOR AN ADULT AND $60 FOR A CHILD, HAD BEEN ERODED BY INFLATION.
"BALANCING ONE FACTOR AGAINST ANOTHER, AND IN THE LIGHT OF MY OVERALL BUDGETARY STRATEGY, I PROPOSE THAT FROM APRIL 1, THE TAX ON PASSENGERS DEPARTING FROM HONG KONG BY AIR BE REVISED TO $100 FOR AN ADULT AND $50 FOR A CHILD, MR JACOBS SAID.
"THIS CONCESSION WILL COST $120 MILLION IN 1988-89,
HE ADDED.
"I TRUST THAT NOT ONLY OUR OWN TRAVELLERS BUT ALSO OUR MANY VISITORS WILL WELCOME THIS REDUCTION," MR JACOBS SAID.
MOVES TO IMPLEMENT REVENUE PROPOSALS
THE
AIR
AND
AND
FINANCIAL SECRETARY'S BUDGET PROPOSALS CONCERNING PASSENGER DEPARTURE TAX, BANK AND DEPOSIT TAKING COMPANY LICENCE REGISTRATION FEES, DUTIABLE COMMODITIES, STAMP DUTY AND VEHICLE DRIVING LICENCE FEES, WERE CONTAINED IN PUBLIC REVENUE PROTECTION ORDERS SIGNED BY THE GOVERNOR THIS (WEDNESDAY) MORNING.
DURING THE CURRENT LEGISLATIVE COUNCIL SESSION, A BILL TO AMEND THE INLAND REVENUE ORDINANCE WILL BE INTRODUCED TO GIVE EFFECT TO THE PROPOSALS ON TAX CONCESSIONS.
"OTHER INCREASES IN FEES AND CHARGES WILL BE BROUGHT FORWARD DURING THE YEAR AS THE RELEVANT REVIEWS ARE COMPLETED,
++ THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, SAID IN HIS BUDGET SPEECH TODAY.
/25