CO129-594-5 Financial Policy Directive 21-2-1945 - 6-10-1945 — Page 2

8.9.

FER

F

P

D

2

1. Revised aft Financial Policy 1a N. L. Smith

In Emanuel

Directive

7.7.44

21.245 2

In connection with the further revision of Hong Kong Civil Affairs policy directives I have had sub- files made for each.

In his letter at (1) Mr. N.L. Smith suggests a

verbal amendment which I have noted in pencil on the directive. This follows the Malayan wording and may be agreed.

It does not appear that the revised Hong Kong Financial directive has been referred to the Financial Department for comments. May we have your comments, if any, please!

24. 2.45.

MTB. William,

This follows

in general, the corresponding

Malayan long term financial policy which (vide hi Wademan's annered) has already

duective

separate site acen approved

by the Secretary of State

The

only

comments

(

have are

6

Our

In and Recreme". As

para

ñ

Long

Cerm

регону

this

diective I lah

i

chined the

shared

dearly.

އ

The

Malayan

duective when

is not

ini

t

4

a

income

Tix.

រ

intended to introduce

ay

dont know

whether Earlem. Dept. have decided views

on this

meu

1

will

a whether

income tax

In Malaya.

It is throught that

be Bertacles

such as

to this introduction are unt preaut

From the point of iew of

The general pour apple appesed

Lacapagal

*

пінче

form of laxation

Wint

incen

M

the fract

the most equitatte

tax

is

and

5 supper?

therefore

E. Dept.. have definite reason.

for not portray the Malayan draft his

priming

Choud be amended

to express

the intention

(when circumstances permit) to in traduce income Tax.

The nexereme is the Salary Busways Tax legislation" in para 6

should

I think