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THURSDAY, NOVEMBER 3, 1988
STEADY AND CONSTRUCTIVE CONSULTATION ON SALES TAXES: FS
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CONSULTATION FOR THE SALES TAX PROPOSALS HAS то BE CARRIED THROUGH STEADILY AND IN A CONSTRUCTIVE MANNER, THE FINANCIAL SECRETARY, MR PIERS JACOBS, SAID TODAY (THURSDAY).
ELABORATING TO REPORTERS ON THE CONSULTATION PROCESS AFTER HIS LUNCHEON SPEECH ON THE SUBJECT OF SALES TAX, MR JACOBS SAID THE GOVERNMENT INTENDED TO ISSUE A CONSULTATIVE DOCUMENT EARLY NEXT YEAR TO A NUMBER OF GROUPS WHO WERE LIKELY TO HELP THE GOVERNMENT IN ITS DELIBERATIONS.
THE FIRST TASK WAS ΤΟ TAKE SOME DETAILED PROPOSALS ΤΟ PROFESSIONAL GROUPS, BUSINESS GROUPS WHO WOULD BE ABLE TO HELP US IN PUTTING TOGETHER OUR IDEAS, HE SAID.
"THE SUBJECT IS QUITE TECHNICAL. HONG KONG IS A SOCIETY WITH ITS OWN CHARACTERISTICS AND IT MAY BE THAT THERE ARE SOME ASPECTS OF WHAT WE HAVE BEEN WORKING UPON THAT WOULD NOT BE SUITABLE FOR HONG KONG.
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"SO WE CAN ONLY TEST THAT BY TALKING TO PEOPLE IN THE MARKET PLACE, HE SAID.
HE ADDED THAT DEPENDING ON THE RESULTS, HE WOULD THEN BE IN A POSITION TO DECIDE WHETHER HE SHOULD SEEK THE ADVICE OF THE EXECUTIVE COUNCIL.
MR JACOBS SAID THE PUBLIC WOULD BE CONSULTED ON THE PROPOSALS AT A LATER STAGE.
HE SAID THE PROPOSALS, IF FOUND TO BE WORTHWHILE INTRODUCING, WOULD THEN GO TO THE EXECUTIVE COUNCIL AND LATER WOULD BE PUBLISHED FOR PUBLIC DISCUSSION.
"WE ARE NOT IN A HURRY. BUT THE PUBLIC, OF COURSE, WILL HAVE AMPLE OPPORTUNITY OF LOOKING AT THE PROPOSALS, CONSIDERING THEM AND THE EFFECT AND IMPACT OF THOSE PROPOSALS ON THEIR LIFESTYLE, HE SAID.
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IN REPLY TO ANOTHER QUESTION ON THE LEVEL OF SALES TAX THE GOVERNMENT WOULD GO FOR IF SALES TAX WAS TO BE INTRODUCED, MR JACOBS SAID IT WAS MUCH TOO EARLY TO SAY WHICH RATE THE GOVERNMENT SHOULD ACTUALLY GO FOR.
HE SAID THE FIGURES OF BETWEEN ONE AND FIVE PER CENT WERE PURELY ILLUSTRATIVE TO SHOW WHAT SORT OF YIELD WE COULD LOOK FOR.
"PART OF THE CONSULTATION PROCESS WOULD BE DEVOTED TO THIS SORT OF THING 1 WANT TO UNDERSTAND IN MY OWN MIND VERY CLEARLY WHAT SORT OF IMPACT A PARTICULAR RATE WOULD BE LIKELY TO HAVE AT RETAIL LEVEL, HE SAID.
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