THURSDAY, NOVEMBER 11, 1993
14
REGISTRAR TO APPROVE RETIREMENT SCHEME APPLICATIONS
THE COMMISSIONER OF INLAND REVENUE WILL NOT ACCEPT NEW APPLICATIONS
OF FOR APPROVAL OF RETIREMENT SCHEMES UNDER SECTION 87A THE INLAND REVENUE ORDINANCE AFTER NOVEMBER 18.
A GOVERNMENT SPOKESMAN SAID ALL FUTURE APPLICATIONS MUST BE LODGED WITH THE REGISTRAR OF OCCUPATIONAL RETIREMENT SCHEMES.
THE NEW ARRANGEMENT RESULTS FROM THE PASSAGE OF THE INLAND REVENUE (AMENDMENT) (NO. 5) ORDINANCE WHICH WAS
BY ENACTED
THE LEGISLATIVE COUNCIL YESTERDAY (WEDNESDAY) AND WILL BE GAZETTED TOMORROW,
NOTIFIED
THE COMMENCEMENT DATE OF THE ORDINANCE, WHICH WILL BE IN THE GAZETTE IN DUE COURSE, IS EXPECTED TO BE NOVEMBER 19 THIS YEAR.
WHEN THE AMENDED ORDINANCE TAKES EFFECT, THE PRESENT SECTION 87A WILL BE REPEALED AND THE COMMISSIONER OF INLAND REVENUE WILL NO LONGER BE AUTHORISED TO APPROVE RETIREMENT SCHEMES FOR TAXATION PURPOSES.
THE SPOKESMAN SAID APPLICATIONS LODGED WITH THE COMMISSIONER BEFORE NOVEMBER 19 WOULD BE CONSIDERED FOR APPROVAL IN ACCORDANCE WITH THE INLAND REVENUE (RETIREMENT SCHEME) RULES.
0
REVISED REBATE SCHEME FOR BULK POSTING
****
THE POSTMASTER GENERAL, MR M
PAGLIARI,
(THURSDAY) THAT A REVISED REBATE SCHEME FOR BULK PRINTED PAPER ITEMS WOULD BE INTRODUCED NEXT MONDAY
ANNOUNCED
TODAY
POSTING OF LOCAL (NOVEMBER 15).
AT PRESENT, SUCH ITEMS POSTED IN BULK HAD TO BE PRE-SORTED TO DELIVERY DISTRICTS IN ORDER TO ENJOY A 10 PER CENT DISCOUNT ON THE TOTAL POSTAGE PAYABLE.
UNDER THE REVISED SCHEME, THIS WILL CONTINUE AND THE REBATE WILL BE INCREASED TO 20 PER CENT DISCOUNT FOR THOSE ITEMS THAT ARE PRE-SORTED TO INDIVIDUAL DELIVERY ROUTES.
MR PAGLIARI SAID THE REVISED REBATE SCHEME CAME ABOUT AS A RESULT OF EXTENSIVE DISCUSSIONS WITH REPRESENTATIVES OF THE SOCIETY OF HONG KONG PUBLISHERS AND THE HONG KONG DIRECT MAIL AND MARKETING ASSOCIATION ON HOW PRESENTATION OF BULK POSTINGS COULD BE IMPROVED SO THAT THE POST OFFICE MIGHT ACHIEVE OPERATIONAL COST SAVINGS WHICH COULD THEN BE PASSED BACK IN THE FORM OF POSTAGE RATE REBATES.
/THE NEWLY
A