CO129-615-2 Income tax 10-3-1947 - 6-2-1948 — Page 93

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attitude will depend on the efficiency with which the Inland

Revenue Department is administered and the degree of success

which the department achieves in checking evasion.

Everything

possible will be done with the staff available but I am greatly

concerned at the delay in the filling of the Assessors posts

for which chartered accountants are required (my Telegram

(1) m 54394/2/47 No. 283 of the 13th February, 1947). There is, at present,

Encl. 5

in addition to the Commissioner only one chartered accountant

in the department and, a though I realise that there may be

difficulties in obtaining candidates on the scale of salary

offered, I trust that every effort will be made to fill the

vacancies as soon as possible. I am told that the Employment

Bureau of the Institute of Chartered Accountants is very

helpful in such matters, but doubtless your appointments

department have already been in touch with the Institute.

20. I am not unduly disturbed at the possible effect on

revenue of the adoption of a 10% standard rate.

generally agreed that the 1941 Estimate of $9,300,000 was far

too low and that the actual yield would probably have been

more in the region of $15,000,000. Price levels are now very

much higher and commercial salaries and professional earnings

have considerably increased. Little more than a guess is

possible at the present stage but my advisers consider that

there is a very good chance that the figure of $16,000,000

allowed for in the Estimates will be reached.

It is

21. I attach a schedule prepared by the Commissioner of

Inland Revenue containing a brief summary of the principal

variations between the Ordinance in the form in which it was

finally enacted and the original Bill as drafted in London.

I have the honour to be,

Sir,

Your most obedient, humble servant,

hank Young.

Governor.