THURSDAY, NOVEMBER 3, 1988
POINTING
RATES OF OUT.
THAT
DIFFICULTIES
IN
HE SAID, ADMINISTRATIVE
"AND INCIDENTALLY, I HOLD THE VIEW THAT DIFFERENTIAL
BE AVOIDED, TAX SHOULD, IF POSSIBLE, BE
LEAD
CONSIDERABLE THESE WOULD CLASSIFYING GOODS.
TO
AT THIS YIELD FROM
DIFFICULT IT WOULD BE GIVEN THE NUMBER OF VARIABLES, STAGE TO MAKE A RELIABLE ESTIMATE OF THE LIKELY POTENTIAL A FUTURE "SALES TAX" IN HONG KONG.
ESTIMATING
"INDEED, THERE ARE A NUMBER OF DIFFERENT METHODS OF
IT ON THE VALUE OF THE POTENTIAL FUTURE TAX YIELD, SUCH AS BASING
IT FROM PRIVATE EXTRAPOLATING TOTAL WHOLESALE
HE SAID. CONSUMPTION EXPENDITURE IN THE GDP ESTIMATES,
TRANSACTIONS, OR
"
WHICH "THE PROS AND CONS OF
METHOD
TO
ARE ADOPT
CURRENTLY
BEING EXAMINED.
AND
FOR
FAIRLY A
+
TRANSACTIONS,
THAT EACH BILLION
"HOWEVER, BASING ON THE VALUE OF TOTAL WHOLESALE
ESTIMATE I AMBIT, BROAD PROVIDING PERCENTAGE POINT OF SALES TAX' LEVIED WOULD YIELD SOME $1.25 AT 1987-88 PRICES.
YIELD
"PURELY BY WAY OF EXAMPLE, YOU MAY WISH TO NOTE THAT THE
TOTAL TO THE APPROXIMATES
1988-89 OF THE 1988-89 CENT TAX, OR SOME 45 PER
FROM A FIVE PER CENT 'SALES TAX' ESTIMATE FOR SALARIES ESTIMATE FOR PROFITS TAX.
THREE TIMES THE BEVERAGES AND
"A ONE PER CENT SALES TAX ' WOULD YIELD OVER
FROM NON-ALCOHOLIC TOTAL 1988-89 ESTIMATE OF REVENUE COSMETICS."
SUGGESTING THINKING
THAT FIVE ABOUT. "I
MR JACOBS STRESSED THAT HE WAS NOT CENT OR ONE PER CENT WERE THE RATES HE WAS WANT YOU TO GET SOME IDEA OF THE FIGURES, HOWEVER BROAD BRUSH.
PER JUST
THAT THE INTRODUCTION
WE HAVE BUT
YET TO
"SO FAR, OUR RESEARCHES HAVE INDICATED HONG KONG
FEASIBLE. IS OF A 'SALES TAX' IN PERSUADE PEOPLE THAT IT IS DESIRABLE.
MADE THAT IT PUBLIC FOR
"I AGREE WITH VARIOUS STATEMENTS THAT HAVE BEEN IS TIME THAT WE SHOULD PUT MORE DETAILED PROPOSALS TO THE CONSIDERATION, HE SAID.
EL
1
15