on the business of insurance in this Colo-
carrying fire jny.
It is also only fair, I
submit, that insurance offices which have their head-quarters in Europe and Agencies in Hongkong, from which they derive large profits, should contribute "directly towards the revenue
of the Colony.
It has been alleged that a probable result of~ adopting the suggestions
con
tained
134
tained in the letter from the Insurance Companies would be suppression of the smaller to the benefit of the larger Companies.
While doubting such
a result I may
add that an alternative suggestion has been put forward by another Company to the effeat that the Companies should be taxed at the~
rate of 2/20
during the
on the net profits
year.
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