74
3
14
bb1/26
(")
(F)
Over payments.
Further information as to the nature of these overpayments is desired before considering this case for exemption.
(G) Waterworks.
It is considered that as the gross revenue from waterworks has always been included in the assessable revenue a case cannot be established for treating this source of revenue on the basis of net receipts without at the same time increasing the percentage on which the military contribution is calculated. It follows that the rebate on the capital expenditure met from revenue should not be allowed, as this would involve treating the waterworks revenue at least partially on the basis of net receipts.
The Council notice that the question raised by the Governor of Hong Kong in paragraph 6 of his despatch o
of 16
+ 24th June, 1926, and in his despatch of 10th September, 1929, regarding the treatment of gains on the sale of securities is not referred to in the Deputy Colonial Treasurer's memorandum of 9th December, 1930 and I am to ask what is the present position of this claim for exemption of revenue, with particular reference to the statement in paragraph 6 of the despatch of 10th September, 1929, that an amount of 8504,104.70, has been withdrawn from the military contribution and is standing to the credit of the "Suspense Account Military Contribution" in the accounts of the Colony.
The Council will be glad if these observations may be considered by your Department in the light of the general principles contained in the memorandum, and I am to suggest that if they commend themselves to the secretary of state for the Colonies the approval of the Treasury should be obtained for the proposed concessions. The Council will be prepared to nominate a representative to discuss any details or points of difficulty with your Department in conference if this should be desired; it is understood that the Treasury would prefer that the two Departments should agree upon a basis before Their Lordships' approval is sought for any changes.
+: No 14661/26
•
NO
+ ho. c. 62916/20/29 [No.1] + Indesign to In/
キ
C. 82756/31ENO1]
TO
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