Wt. 49614,485 3/46 50m. S. & S. Ltd.
54307/47
26
bft fa Ty
concurrence
0.
Mr. Emanuel
Mr. Mayle
20/1
Havin
andrast
Mr. Jodytiems
Mr.
Mr.....
20his
DRAFT.
Permt. U.S. of S.
Parly. U.S. of S.
Secretary of State.
TELEGRAM.
(1)
Ordinance.
THE GOVERNOR,
HONG KONG.
Your telegram No. 1651.
Revision of War Revenue
FURTHER ACTION.
To so under come dacis
de celle of
Chi sexpell
You will wish to know that
draft Income Tax Ordinance which Pudney
is taking back with him after consultati
with Board of Inland Revenue has my
general approval in principle.
Pudney
■ill fully explain ways in which drafts
Ordinance differs from 1941 Ordinance.
Principal advantage over 1941 Ordinance
is that it permits institution of a
standard rate and gives encouragement
to taxpayers to seek personal assessment
on basis of whole income.
2.
Question of rates of tax was
not discussed in detail with Pudney
except in general terms. I wish,
however, to emphasise the importance
I attach to putting the standard rate
at as high a level as you consider
practicable. In this connection
Ordinance as drafted by Pudney will
by Impositin
not permit the institution of a surtax
This is an
on higher incomes and Insider it additional regim for making the important, therefore, that standard r
øhould be as high as possible in
No comments yet.
Private notes are available after approval.