CO129-623-3 Supplementary Expenditure- general correspondence on the allocation of funds and an annual report for the... 1-3-1950 - 30-9-1950 — Page 34

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39

APPENDIX

STATEMENT OF REVENUE IN THE YEAR 1948/49, UNDER HEADS AND

No. V.

SUB-HEADS AS COMPARED WITH THE ESTIMATES

Heads and Sub-heads.

Estimated.

Actual.

C.

Over the Estimate.

C.

Under the Estimate.

C.

Explanatory Remarks.

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Abnormal demand by local merchants for export (duty paid) to North China and

Korea, and increased local consumption by Motor Vehicles.

Greater demand and checking of smugglers' activities.

Demand underestimated.

6,138,270.44 Forward payments of duty during preceding year reduced current year's revenue. More locally manufactured liquor produced and smuggling activities checked. Many

illicit stills seized during the year.

Duty on medicines raised and increased demands.

Increased manufacture to meet increased demands from the public.

1.-DUTIES,

Import Duty on Hydrocarbon Oils

4,000,000

Liquor

Perfumed Spirits

5,500,000

200,000

Tobacco

25,000,000

Duty on locally manufactured Liquor

2,500,000

8,647,607.05 4,647,607.05

7,262,967.22 1,762,967.22

313,705.19

113,705.19

18,861,729.56

2,754,536.79

254,586.79

ני

Proprietary Medicines and Toilet

Preparations

Table Waters

2,500,000

350,000

2,635,101.98

635,636.58

135,101.98

285,636.58

Total

40,050,000 41,111,284.37 7,199,554.81

6,138,270.44

2. ASSESSED TAXES.

Assessed Taxes (Rates) Hong Kong

JJ

་་

71

Kowloon

N.T.

2

7,500,000 9,567,589.98 2,067,589.98 3,500,000 5,400,928.84 1,900,928.84

15,000

16,191.34

Increased rateable values and large new building programme.

do.

1,191,34

Slightly underestimated.

Total

11,015,000

14,984,710.16 3,969,710.16

3.-INTERNAL REVENUE.

Bets and Sweeps Tax

Dance Halls Tax

Earnings and Profits Tax

Entertainment Tax

Estate Duty

Meals and Liquor Tax

Stamp Duties

2,000,000 4,734,315.20

400,000 374,179.70

40,000,000 40,285,200.31

2,734,315.20

Increased public interest and one extra Sweepstake.

25,820.30 Overestimated.

285,200.31 3,500,000 4,957,070.90 1,457,070.90

2,000,000 3,336,340.73 1,336,340.73 2,750,000 2,856,034.80

106,034.80

7,500,000 13,969,929.54 6,469,929.54

Variable; a close estimate having regard to the total amount involved.

New cinemas and influx of refugees.

More large estates than expected.

Increase in prices and more efficient supervision of restaurants.

Big arrears of 1947/48 Assignments dealt with in 1948/49.

Total

58,150,000 70,513,071.18 12,388,891.48

25,820.30

Carried Forward

109,215,000 126,609,065.71 23,558,156.45

6,164,090.74