1941-05-29 — Page 16

R.A.F.

KEEPS

THE CHINA MAIL, MAY 29, 1941.

UP

HEAVY RAIDS ON MALEMI Number Of Attacks At Night And In Daylight

WAR TAX

Destruction Among 'Planes PROPOSALS

On Ground

(Continued from Page 1)

other lower rates of the Taxes.

Estimate Of Yield

THE BOMBING of Aleppo aerodrome, in Syria, and a successful series of raids on the enemy-occupied aerodrome at Malemi, in Crete,

highlights of yesterday's are the official Middle East air communique in Cairo. The communique states that in Crete, R.A.F. aircraft carried out a number of suc- cessful raids on Tuesday and during the pre-generally have risen ceding night on the enemy-occupied aero- drome at Malemi.

to

the

der, the total exemption level be-Į STOP PRESS

ing reduced to $5,000. The mean- i ing of depreciation is put on clearer basis in Section 18.

Interest Tax

Interest Tax is to be pald 01

the rate of 12 per cent, on the full amount of any sum failing Wari due after March 31, 1941, being Interest arising or accruing in the Colony on any debenture, mort gage, bill of sale, Ioan, deposit o advance and

(a) paid or payable under any mortgage, debenture

on S.

In a brief statement at the Legislative Council Meeting this afternoon, His Excellency the Gov-

commenting ernor Hong Kong's War Effort, and referring to the Re- port of the new War pn- faxation Committee, dis- e.

sale registered with any public closed that His Excellency may had discussed the Report ered

be

Fr to

and th

ared:

HE Said The laying of the report inake of the War Revenue Committee gives (night an opportunity to address you jopu!- e

otherwise of, base- orrefly on the adequacy or Hong Kong's war effort

Taking the estimate of yield 1941-42 at $9.300.000 it the present War Revenue Ordinance were to continue unchanged, the authority or public officer; adoptalin of thr amendments (b) paid or payable by ary mentioned would bring in a fur-person carrying on trade profes-with Executive Council tute ther $1,570,000 raising the total sion or business

1 the Colony and had obtained their and $10,870,000

a deduction in Since data col-¦ and allowable as lected by the Way Paxatum De-ascertaining the profits of suet concurrence to raise the

that indicate

profils trade, profession or bus ness i partment

basic rates to 7' it is not accordance with section 18

there shall 14' respectively. unreasonable to put the total yield! Provided that at the round figure of $11,000,000 |exempt from Interest Tax: This sum, however, falls con- |

(a) any interest paid or payable siderably short of

amount by or to a banker approved by Financial Secretary the Board of War Taxation: Near Sidi Barram, a Messersch- | which the

after a had advised 148 During the day a heavy attack,

wns necessary. (b) any interest paid or payabl was plund of midt 109 a large mumber was made u

ground. forced landing, and over Tobruk and we had next to consider how a Corporation carrying on trad

or business in the Colony. enemy aircraft Many of these were destroyed and a Junkers 52 4troop-carrier) was additional revenue

(e) any interest liable to Inrom : be fennel | shot down by gunfire

came to the conclusion Tax in the several others severely damaged

United Kingdom "We A successful attack was made ALSO FIGHTER AIRCRAFT

on Tuesday of that the extra amount required any other part of the British Em INTERCEPTED A FORMATION by our bombers

not by pure could beat be obtained OF JUNKERS 88 BOMBERS; shipping off the African coast.

SEVERAL. DIRECT HITS

miscel· the imposition of new NORTH OF THE ISLAND AND)

ON TWO MER- laneous taxes, the yield from SHOT DOWN THREE OF THEM WERE MADE

OF BETWEEN; each of which would be com. attack ve CHANT-SHIPS il night During

but by rais paratively small, 108.000 AND 10,000 TONS, EACH | are believed enemy aircraft

OF WHICH WAS SEEN EMT- have been destroyed on the arre drome at Malem and several TING COLUMNS OF SMOKE others set ablaze on the adjacent! REUTER beaches which were also bombe:1!

In the

and machine-gunned

Me. 109 Captured

In Libya, the harbour at Beng- hazi was attacked by bombers on the night of May 26/27. One build-1 ing was demolished and a number of fires started at the base of the Cathedral Mol

SUBMARINE “USK”

OVERDUE

The Admiralty announces that the submarine Usk is overdue and British must be presumed lost. Wireless.

--

Sole Agents for

"NORVIC" "MASCOT"

"SIR HERBERT BARKER"

and

"FINN-FLEX”

SHOES

Made by the

Norvic

Shoe Co., Northampton.

NEW STOCK JUST ARRIVED.

In these brands of highclass footwear you are assured of finding your requirements, whether they are for a lightweight shoe or

one of sturdy construction.

SLIP PERS

Brown, Black, Red and Blue with soft and solid leather soles in all sizes.

Wm. POWELL, Ltd.

10, ICE HOUSE STREET.

could best

ing the basic rates of all five! war tax cs. On basic rates of

Person Paying To Deduct

Where any

in person

pro-

of

As you are well aware the economic side of the war is of paramount im- in view the portance, and with that the txuple of United Kingdom have trans- rafer heavy ត weight of taxn- accepted so OF

tion andk have so drastically restrict- of all but the ed the consumption bare necessities of life that the stan dard of living there is now definitely lower than it was two years ago.

The purposes of these great sacrl. fees are to save shipping space, t save labour on non-essential goods and It will not be denied the to save money

5 per cent and 10 per cent the Colony pays or credits to any other that, in so far as it lies in our power estimated yield was $11.000.000 person any sum falling due after here, we should do likewise.

With this end in view I have recent-

เปิด

RLE

IW-

er-

so that raising the basic rates the thirty-first day of March, 1941,¦ ly appointed a committee with Wide to 6 per cent and 12 per cent being interest chargeable with tax terms of reference to study the whole tion would produce an additional under section 30. he shall, not-of Hong Kong's war effort and to make ana one-fifth or $2,200,000 and rals withstanding

any agreement to recommendations for its Intensification. ing the basic rates

to 7

- 1:31

of

|

Per the contrary whether made before One of their principal tasks will be to cent and 14 per cont would or after the passing of this Or-suggest what reductions can be made in imports and I trust that they will produce an additional two-fifths d'nance deduct twelve per cen-

find it possible

substantial to make or $4.400.000.

tum from such sum, and every

proposals. The problem

one 19 The first alternative (6 per such deduction shall be a deb peculiar difficulty in Hong Kong, which cent and 12 per cent) would pro- due from such person to the Gov-exists mainly un its entrepot trade duce ruther less and the second ernment of Hong Kong and shall though its manufacturing side has alternative (7 per cent and

be recoverable forthwith as such largely increased during the last three per cent) ruther more than the or may be assessed and charged additional sum which the Fin-

find.

was necessary to into consideration the

14

it

Taking

re-

upon such person in addition

t

years

That must important issue wit be carefully kept in mind by the com- mitten and by the Government in mak- ing its decisions.

ancial Secretary had advised any tax otherwise buyable by him under this Ordinance. Where

The other means whereby Hong Kong healthy any such person fails to make can contribute more fully to

the war state of the Colony's surplus deduction which he is required to effort is through taxation, and I come balances and the estimated an- make under this sect on he shall at this point to the report of the War

half 11

Committee which was laid nun yield of at least

have Revenue nevertheless be deemed to million dollars from the recently made the deduction.

this afternoon, imposed duty on Toilet Prepara- tions we finally decided to commend that the basic rates be raised to 6 per cent and 12 per cent. The estimated yield at the old and new basic rates can be set out in detail as follows:---

At 6% and 12% At 5% and 10% Salaries $1,200,000 $1.440.000 Property $2,300,000 $2,760,000 Corporations

Profits $4,700,000 Business

Profits Interest

$5,640,000

$1.800,000 $1,000,000

$2,160.000 $1,200,000

I have discussed the report with the Any person who deducts Inter-

Executive Council in the tight of what est Tax, shall, at the request of

I have said already about the general the recipient. issue to him a Cer-intensification of our war effort, and tincate in the prescribed. form have recommended to them, and have showing--

obtained their concurrence with, the (1) the

gross amount of the general increase of the present baste rates to 7% and 14% So far as the payment:

is concerned I am giving (II) the amount of tax de- salary tax

close personal attention to the ques- ducted;

tion whether this further increase will re-act harshly on lower-salaried real- dents who have to maintain a family elsewhere than in Hong Kong, having in- regard to the very considerable creases that are being made in the allowances for wives and children. Where the profits of any per-That must be avoided. The Attorney son which are liable to tax under General will in due course inform you in detail of these proposed amend-

(III) the net amount paid or

credited;

(IV) the period of accrual.

Set Off

$11,000,000 13,200,000 the provisions of sections 15 and

16 include any sum from which a nents, deduction has been mode in ac- cordance with section 31, he shal!

Changes In Bill

In the revised Bill, the only change of importance in the Pro- perty Tax is the increase from 5 to 8 per cent.

this

be entitled, on production of a In Legislative Council Certificate issued in accordance afternoon, the Hon Mr. J. 3. asked the following with section 32, to a set off against Paterson the tax payable by him under the questions: provisions of Chapter IV of the 1. Will the Government give of the incidence of deduction shown statistics The Salarles Tax now exempts amount of the from taxation any gratuity ro- on such Certificate: Provided that evacuation on the wives of senior

of the deduction Government Officers, namely - ceived on termination of employ- if the amount

(a) wives not in the Colony ment or any sum received by way should exceed the amount of Pro-

when the evacuation was of commutation of pension or an- fits Tax, the excess shall be

ordered, nuity or any sum withdrawn from funded.

a Provident Fund. It is also TO- vided that visitors are not liable

the

to, tax unless their stay in Colony exceeds 180 days. A new

re-

Instalment Provision

Tax Clause 56 This provides

is

Another important change clause has been inserted to re-affecting the Salories place Clause 10 or the old Bill that contained in placing assessment on a simpler of the new Bill. basis Salaries Tax will now be for the acceptance by agreement the of Salaries' Tax in instalments, collected at 6 per cent, on

upon

cent.

Profits Tax

(b) wives departed since that

date, (c) wives

recommended for exemption by the-Evacua- tion Advisory Committee,. (d) cases still pending when further compulsory evacua- tion was suspended?

2. In how many cases was the

Arst $5,000 of taxable income and not exceeding four in number, recommendation of the Evacua- tion Advisory Committee.over- the remainder at '12 per irrespective of hardship.

Section 80 authorises recovery ruled by higher authority?wha of tax in default by process be- Replies to these questions were. fore a Police. Magistrate. The given by the Hon, the Colonial tax in default shall be deerned Secretary as follows, taking “sen- The Profits Tax is increased to be a fine imposed by sentence for officer as includ ng 22 officers, similarly. Clause 16 of the new of the Magistrate on the defaulter namely both Judges, all official Bill redrafts Clause 13 of the old and the provisions of the Magis members of both Councils, all which provided that no tax was trates Ordinance, 1932, relating First Class cadets and all other payable on profits below $10,000, to default of payment of a fine heads of the principal departments of Government, but exclusive of taxed at 5 per cent, up to $100, shall thereupon apply.

The new Ordinance is made three unmarried officers, in those .000 and 10 per cent. thereafter. The new clause, provides for tax retrospective to be applicable to categories:-

1. at 6 per cent, on the first $50,000 the fancial year commencing on and 12 per cent, on the remain- April 1, 1941.

4. Printed and Published for the Proprietors, The Newspape Enterprise. Ltd., by GoRDON CADE BURNETT, at Windsor House, Victoria, Hong Kong.

(b)

(c)

(d)

B 2.

2 Nil No exemptions

to

ifred

of

rawn

wer

granted except the six cases me

tioned in 1 (c) above.