CO129-586-8 War Taxation 2-2-1940 - 11-5-1940 — Page 145

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(c) the power to fix "usual rates of profit" for

particular businesses, these rates to be applied where the taxpayer's accounts are unsatisfactory in form (Clause 34 (4)).

There may of course be circumstances, of which we are not aware, peculiar to Hong Kong which led the Committee to recommend the setting up of this Board, but it seems to me unusual to have a semi-public body as distinct from a departmental body for the purpose of making rules and prescribing forms, and it would seem more practicable to leave such work to an official body.

The system recommended in Clause 58 of the

Model Ordinance is that rules and orders for carrying out the ordinance are made by the Governor in Council, having, of course, been devised by the Revenue officials.

Yours sincerely,

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