XN000022-1973-01-21 — Page 1

H

香港政府

GIS

新聞處

DAILY INFORMATION BULLETIN

Sunday, January 21, 1973

H.K. ECONOMY IN HEALTHY STATE

Increase In Profit Tax Yields Shown In 1971-72

Increased yields in profits tax from corporations during 1971-72

clearly demonstrated the "generally healthy state" of Hong Kong's economy,

the Commissioner of Inland Revenue, Mr. FE. Rainbow, said in his latest

annual report.

He disclosed that the total revenue collected from profits tax

in 1971-72 was 3612.8 million, compared with $504.7 million in the previous

year.

Net profits tax charged on 16,277 corporations and unincorporated

business was $629.5 million as against $505.7 million from 13,111 similar

establishments a year ago.

The net tax assessed on the corporations alone in 1971-72 was

$527.2 million, an increase of 23.5 per cent over 1970-71, and nearly

two and a half times the level of six years ago, Mr. Rainbow said.

The largest single contributor to profits from corporations was

the distribution trades, including wholesale, retail, and import and

export. They accounted for almost 24 per cent of the total tax assessed.

The manufacturing trades as a whole contributed 22 per cent

of the total tax assessed.

Hotels, restaurants and places of amusements recorded a "quite

remarkable increase" in tax assessed at a total of $43.7 million. It

achieved an increase of nearly 60 per cent from 1970-71.

/It would

Issued by Government Information Services, Beaconsfield House, Hong Kong. Tel: 5-233191

PRH 7