CO129-565-3 Defence Contribution Amendment Ordinance draft bill 17-9-1937 - 29-8-1938 — Page 9

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hat

No. 662

Reuplo 1938 20 $3200,000 "net receifer 1938 &t $770,000

ŘECEIVED

20 SEP 1938

0, 0.

Sir,

59

GOVERNMENT HOUSE,

HONG KONG.

29th August, 1938.

I have the honour to refer to correspondence

4 ending with Mr. Ormsby-Gore's despatch No.41 of 9th

February, 1938, regarding the accounting procedure to

be adopted in connection with Customs and Excise

drawbacks and other refunds of revenue. It had been

the intention to adopt the new system with effect from

1939. When, however, estimates of the amount for

which provision would be necessary were prepared it

appeared that they would make so great a change in the

appearance of the estimates of revenue and expenditure

that I have thought it desirable to seek your further

instructions before proceeding with the introduction

of the new system.

2.

annum.

*

The total estimated refund of revenue on

the basis of present conditions is $13,500,000 per

Of this over $4,000,000 consists of refunds

in respect of tobacco duties largely owing to the development of the manufacture of tobacco in the Colony during the present hostilities in China; and approximately $6,000,000 is accounted for by refunds

of duty on petroleum imported into the Colony for

re-export by road or rail into China.

THE RIGHT HONOURABLE

MALCOLM MACDONALD, M.P.,

·

.TOLISVOJ

६

&c.,

&C.

&C.,

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