14002
Extract fan Hong-Kong Weekly Press
дн
107 1122
INCOME TAX FOR H.K.? OVERLA
(Daily Press, August 4, 1939)
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PUBLIC OPINION in the mittee on Taxation, which Colony will generally be expressed its belief in In- in accord with the opinion come Tax as the best and expressed by the Hon. Sir most equitable of taxes if it Henry Pollock, K.C., at Tues- could be successfully ad- day's meeting of the Hong-ministered" and, continued kong Rotary Club, when, in Mr. Caine, “you may all make thanking the speaker, the your own guesses about the Hon. Mr. Sidney Caine, likelihood of its imposition." Financial Secretary to the The public naturally enough H.K. Government, for his read in that sentence a address on the effects of an warning, vague though it Income Tax for Hongkong, may be, of some decision on he stated that he did not the subject by the Govern- ¡ feel that there was any ment and business people necessity for such a tax to be appear to be more pessimistic imposed in this Colony. than ever as to the results Nevertheless, Mr. Caine's which would follow if the views on this very intricate burden of taxation is further and difficult subject must increased by the imposition assuredly have helped to of an Income Tax. bring home to the people of Hongkong the details of a system of taxation that has seldom been understood and never been welcomed in any part of the British Empire.
Mr.
even old
IT IS from the business community that the Govern- ment will meet the strongest opposition in the event of such a step being taken. Caine himself referred to THERE IS no doubt that what is the most important the revenue of the Colony has aspect of the subject when been seriously affected by the he asked, in the course of his hostilities which have been address, whether such a tax going on in South China would frighten business away within the past year. Figures from the Colony. That is ex- of income and expenditure actly the fear in business have told this tale pretty
Private en- circles to-day. plainly and, in the circum- terprise has suffered alarm- stances, Mr. Caine might have ing losses, while thought it advisable to pre-established firms have been pare public opinion on the unable to show any but the need for such a tax in the near future. He certainly performed his task with ad- mirable ability and his ad- dress must have removed many misapprehensions from the public mind with regard to the effects of such taxa- tion. The Government will, however, not find it an easy matter to secure public ap- proval if such a step is con- templated. Business in the Colony has by no means been flourishing in the past few months and with living costs having nearly trebled them- selves, without a proportion- ate rise in wages, the average worker here faces prospects.
bleak
MR. CAINE himself an-
most meagre profits on their working. In short, any hopes of more capital being invested here would be seriously jeo- pardized if such a tax were imposed. As far as public opinion is concerned, there- fore, even after mature con- sideration, the answer to any decision to impose Income Tax would be a decisive “No” and the Government would be well advised to defer any such a proposal indefinitely until more normal times re- turn not only to the Far East, but also to the whole world.
Telegrams expressing their deep respects and reaffirming their strong support to Generalis- simo Chiang Kai-shek, General Executive of the Kuomintang.
swered the questions which were recently received from over-
disturbing the public seas
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Chinese public bodies in mind when he quoted the Manila, Malacca, Perak, Cuba, recent report of the Com-and Penang.
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