2
WEDNESDAY, NOVEMBER 14, 1990
OF INLAND
FOR THE CONVENIENCE OF TAXPAYERS, THE COMMISSIONER REVENUE CURRENTLY OPERATES AN ADMINISTRATIVE ADVANCED RULING PROCEDURE
UNDER TRANSACTIONS.
THIS IN RESPECT OF PROPOSED LEVERAGED LEASE
RULING AS ΤΟ PROCEDURE THE COMMISSIONER, ON APPLICATION, GIVES A WHETHER HE CONSIDERS A PROPOSED TRANSACTION IS LIKELY TO BE CHALLENGED 6 LA UNDER THE GENERAL ANTI-AVOIDANCE PROVISIONS CONTAINED IN SECTION OF THE INLAND REVENUE ORDINANCE. A NUMBER OF APPLICATIONS FOR ADVANCE CLEARANCE ARE NOW BEING CONSIDERED BY THE COMMISSION/R, AND THESE WILL EXISTING LAW AND PRACTICE. IN ACCORDANCE WITH THE BE CONSIDERED
AFTER TODAY, SUBMITTED
THE HOWEVER, IN CONSIDERING APPLICATIONS
AS IN THE COMMISSIONER WILL HAVE REGARD TO THE PROPOSED LEGISLATION.
WAY AFFECT A PAST, THE ISSUE OF AN ADVERSE RULING WILL NOT IN ANY
AGAINST ANY SUBSEQUENT RIGHT OF OBJECTION AND TAXPAYER'S ASSESSMENT.
APPEAL
THESE MEASURES WILL HELP STEM A MAJOR HAEMORRHAGE AFFECTING THE
REVENUE. I MIGHT ADD THAT SIMILAR MEASURES HAVE BEEN USED PUBLIC OTHER TAX JURISDICTIONS.
IN
NOTE TO EDITORS:
FOLLOW-UP ENQUIRIES
SECRETARY'S FINANCIAL ON THE
STATEMENT
SHOULD BE MADE WITH THE COMMISSIONER OF INLAND REVENUE, MR ANTHONY AU- YEUNG OR SENIOR ASSESSOR, MR GARY LAIRD (TEL. 894 5001, 895 2116) WITH MR STEPHEN SELBY OF THE FINANCE BRANCH (TEL. 810 2370).
OR
LOCAL EFFORTS TO REDUCE OZONE DEPLETION
THE GOVERNMENT IS EXPLORING WAYS TO STRENGTHEN TO REDUCE OZONE DEPLETION, FOLLOWING THE MEETING OF THE PARTIES TO THE MONTREAL DEPLETE THE OZONE LAYER.
LOCAL EFFORTS CONCLUSIONS OF THE SECOND PROTOCOL ON SUBSTANCES THAT
FOR SECRETARY
PLANNING, ENVIRONMENT TODAY
COUNCIL
THIS WAS STATED BY THE
THE LEGISLATIVE AND LANDS, THE HON GRAHAM BARNES, IN (WEDNESDAY) IN REPLY TO A QUESTION BY THE HON PETER WONG.
OF THE MR BARNES SAID: "THE CONCLUSIONS OF THE SECOND MEETING
OZONE PARTIES TO THE MONTREAL PROTOCOL IN SUBSTANCES THAT DEPLETE THE
THAT THE PHASING LAYER REFLECT AND CODIFY A CONSENSUS OF SOME YEARS
SHOULD BE ACCELERATED AND THAT OUT OF CHLOROFLUOROCARBONS (CFC'S)
CHLOROFORM SHOULD BE AND METHYL HALONS AND CARBON BROUGHT INTO THE NET.
TETRACHLORIDE
/"AT THE