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Air Passenger Departure Tax (Amendment) Bill
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Following is a speech by the acting Secretary for the Treasury, Mr Alan Lai, in moving the second reading of the Air Passenger Departure Tax (Amendment) Bill 1996 in the Legislative Council today (Wednesday):
Mr President,
I move that the Air Passenger Departure Tax (Amendment) Bill 1996 be read the second time.
The Bill seeks to increase the Air Passenger Departure Tax from $50 to $100, which was the level when the tax was first introduced in 1983. The level of $50 is well below the average for the region and the increase will bring the tax more in line with the level charged in other places. Passengers aged below the year of twelve are still not required to pay the tax.
Mr President, with these remarks, I commend the Bill to Members.
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Betting Duty (Amendment) Bill
Following is a speech by the acting Secretary for the Treasury. Mr Alan Lai, in moving the second reading of the Betting Duty (Amendment) Bill 1996 in the Legislative Council today (Wednesday):
Mr President,
I move that the Betting Duty (Amendment) Bill 1996 be read the second time.
The Bill seeks to increase betting duty by half a percentage point. The rate for a standard bet will be increased from 11.5 per cent to 12 per cent and for exotic bets from 17.5 per cent to 18 per cent. The increase will apply with effect from the next racing season, 1 September 1996. The Royal Hong Kong Jockey Club will absorb the cost of the increase by a corresponding reduction in its betting commission. The prize money pool will not be reduced.
Mr President, with these remarks, I commend the Bill to Members.
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