XN000022-1973-03-20 — Page 4

- 3

Tuesday, March 20, 1973

STAMP DUTY CONCESSIONS COME INTO EFFECT ON APRIL 1

Budget Proposal To Be Implemented

申申申

Certain stamp duties will be abolished or reduced from April 1.

These stamp duty changes were announced by the Financial Secretary

in his budget speech on February 28.

The Governor has made an order, under Section 2 of the Public Revenue

Protection Ordinance, to implement these concessions.

Among the heads of charge to be abolished are the 33 fixed duty

on Affidavit, Statutory Declaration or Declaration in writing on Oath or

Affirmation; and the 15 cents stamp duty on receipts for amounts exceeding $20.

The duties on insurance policies are also to be abolished as follows:

life policies 25 cents for every $1,000 or part thereof insured; all other

policies and renewals -- fixed duty of 50 cents; life policies, renewal

receipts for amounts exceeding $20 fixed duty of 15 cents.

The remaining items on the abolition list are:

Agreement, or any Memorandum of Agreement made under hand only, not otherwise specifically charged with duty (33); agreement or contract for hire-purchase ($5); bill of lading (15 cents or 40 cents);

Attested copy of any instrument chargeable with duty ($3); Charter Party ($20); Godown Warrant (20 cents); Letter of Rypothecation ($3 or $6);

Note of Protest of a bill of exchange or promissory note (31); Notarial Act ($3); and Shippers Books (Chinese) and other receipts for goods shipped where bills of lading are not used (15 cents or 40 cents).

Documenta