XN000022-1974-03-28 — Page 5

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Thursday, March 28, 1974

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Any business, whose profits derive primarily from the sale of services, with a total sales or receipts of less than $450 a month (currently $300) can also apply

for exemption.

Mr. Ladd said details of these changes would appear in advertisements

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of leading English and Chinese newspapers tomorrow (Friday)

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* 10 30 b wiff mood onlo vad

Explaining the revision, he said it reflected the fact that the Jotund i FA

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fees had remained unchanged for many years while the costs for running

this had gone up. Thus, the revision was merely in line with the general

trend of rising costs.

In his Budget speech, Mr. Philip Haddon Cave said that the Finance

Branch had completed the first stage of an exercise to revise fees and

charges, covering a multitude of services and of permits, licences,

certificates and other official documente.

The rates, he said, were originally designed either to recover

full costs, or to raise revenue or to keep administrative costs within

bounds by detering frivolous applications. Many of these rates had

remained unchanged for many years, 30 years in some cases.

The Finance Branch had identified 40 original documents and

a miscellany of duplicates, copies and extracts for which higher rates could

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be introduced virtually straight away in 1974-75.

The doubling of Business Registration fees, be added, would

yield an additional $5 million a year.

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