CO129-582-7 Taxation 6-6-1939 - 5-2-1940 — Page 177

Sa

No. 402.

TAXATION C'TTEE RELORY

54002/39

RECEN

19 JUN 1939 C. O. REGY

GOVERNMENT HOUSE,

178

HONG KONG.

6th June, 1939.

5 B/0.8 (?)

вору

Sir,

I have the honour to inform you that, in

pursuance of the intention stated in my address to

the Legislative Council on 13th October, 1938, I

appointed on 19th December last a committee of inquiry

to consider the question of future taxation in the

Colony, and I have now to forward six copies of the

committee's report, which was laid before Legislative

Council on the 25th May. The constitution and terms

of reference of the committee will be found on pages

4 and 5 of the report.

2.

The committee have made in the first place a

number of minor suggestions, of which some are

intended to be put into immediate effect, but the

majority, and the more important, are put forward as

means by which some additional revenue could be

secured if the need arose. The committee have then

proceeded to examine the possibilities of securing a

really substantial addition to the revenue, which they

refer to as major increases. The possibilities they

suggest under this head are an increase of the rates,

a corporation profits tax and a general income tax.

THE RIGHT HONOURABLE,

MALCOLM MACDONALD, M.P.,

&C.,

&C.,

&C.