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WEDNESDAY, JULY 19, 1989
THOUGH THE BILL WOULD CAUSE COMPLEXITY IN HONG KONG'S TAX SYSTEM, MR POON SAID OMELCO, HAVING CONSIDERED THAT ASPECT FOR MANY YEARS, DECIDED THAT SUCH COMPLEXITY WAS ACCEPTABLE TO REDRESS A LONG-HELD GRIEVANCE.
"IN PRACTICE, PRESENT DAY COMPUTER CAPABILITIES ALLEVIATE MANY OF THE DIFFICULTIES.
"FURTHERMORE, AS HONG KONG HAS BECOME
AN IMPORTANT FINANCIAL CENTRE, SOME COMPLEXITY WHICH WILL RESULT FROM AMENDING MANY OF OUR LAWS TO COPE WITH OUR INCREASINGLY SOPHISTICATED ROLE IS INEVITABLE, HE SAID.
T
PRINCIPLE OF EQUITY SUPPORTED
THE LONG DRAWN OUT DEBATE ON SEPARATE TAXATION FOR MARRIED COUPLES HAS COME TO END WITH THE INTRODUCTION OF THE INLAND REVENUE (AMENDMENT) (NO.3) BILL 1989, THE HON RITA FAN SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SPEAKING IN SUPPORT OF THE BILL, MRS FAN SAID THE A COMPLICATED PIECE OF LEGISLATION.
HOWEVER, SHE SAID, SHE WOULD RATHER PAY THE SLIGHTLY MORE COMPLEX TAX SYSTEM IN ORDER TO UPHOLD THE EQUITY, PRIVACY AND INDEPENDENCE FOR THE WORKING WIFE.
MEASURE WAS
PRICE OF A PRINCIPLE OF
IS SUFFICIENT
"I DO NOT BELIEVE THAT A WORKING WIFE ALLOWANCE TO ENABLE MARRIED WOMEN ΤΟ EXERCISE INDEPENDENT CONTROL OF THEIR TAXATION AFFAIRS, IF THEY SO WISH, NOR IS IT FAIR FOR THEIR SPOUSE ΤΟ BE LANDED WITH THEIR TAX BILL,
+T SHE SAID.
ON A REQUEST BY THE FEDERATION OF TRADE UNIONS TO THE WORKING WIFE ALLOWANCE, MRS FAN SAID THE ALLOWANCE WAS AN
RETAIN INTERIM MEASURE FOR SEPARATE TAXATION, WHICH MUST CEASE TO OPERATE WHEN THE COMPLETE PACKAGE CAME INTO BEING.
SHE SAID SHE WOULD RATHER SUGGEST THAT THE ADMINISTRATION CONSIDERED THE POSSIBILITY OF AN APPROPRIATE INCREASE IN BASIC ALLOWANCES FOR THE NEXT BUDGET. IN ORDER TO GIVE SOME RELIEF TO THE GROUP OF MARRIED COUPLES, OF COMPARATIVELY LOWER INCOME, WHO AS A RESULT HAD TO PAY MORE TAX.
WHILE APPRECIATING THAT THE GOVERNMENT WOULD LOSE A SIGNIFICANT AMOUNT OF TAX REVENUE IF THE BILL WAS PASSED INTO LAW, MRS FAN REMINDED MEMBERS THAT THE BENEFICIARIES OF THE LEGISLATION WERE THE MIDDLE INCOME GROUP WHOSE JOINT ANNUAL EARNING RANGED FROM $170,000 TO $330,000.
"THESE PEOPLE