XN000022-1978-12-11 — Page 3

MONDAY, DECEMBER 11, 1978

'PAY YOUR TAX ON TIME' ADVICE

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THE INLAND REVENUE DEPARTMENT TODAY (MONDAY) REMINDED SALARIES AND PROFITS TAXPAYERS WISHING TO PAY BY INSTALMENT TO ENSURE THAT THE FIRST PAYMENT IS MADE ON OR BEFORE THE DUE DATE SHOWN ON THE DEMAND NOTES.

REFERRING TO THE FINANCIAL SECRETARY'S 1978-79 BUDGET SPEECH, A SPOKESMAN FOR THE DEPARTMENT POINTED OUT THAT WITH EFFECT FROM THE CURRENT FINANCIAL YEAR, NOTICES FOR PAYMENT OF PROVISIONAL SALARIES AND PROF ITS TAX WILL CARRY A WARNING THAT, IF THE FIRST INSTALMENT WAS NOT PAID BY THE DUE DATE, THE SECOND INSTALMENT WOULD AUTOMATICALLY BECOME DUE IMMEDIATELY.

+THIS WILL BE STRICTLY APPLIED AND PLEAS OF OVERSIGHT WILL

NOT BE ENTERTAINED, THE SPOKESMAN STRESSED.

IN ADDITION, HE SAID, IF TAX WAS NOT PAID BY THE DATE SPECIFIED IN THE NOTICE, THE COMMISSIONER OF INLAND REVENUE MAY, UNDER THE INLAND REVENUE ORDINANCE, ORDER THAT A SUM OF UP TO FIVE PER CENT BE ADDED TO THE TOTAL TAX UNPAID AND THIS ADDITIONAL SURCHARGE WOULD ALSO BE IMMEDIATELY DUE FOR PAYMENT.

+TAXPAYERS ARE INFORMED THAT THE SURCHARGE WILL BE ADDED IF TAX IS NOT PAID ON OR BEFORE THE DUE DATE, UNLESS EXCEPTIONAL CIRCUMSTANCES ARE SHOWN IN ANY CASE, THE SPOKESMAN SAID.

PAYMENTS MAY BE MADE AT THE THREE COLLECTION OFFICES OF THE DEPARTMENT OR BY POST BY SENDING A CROSSED CHEQUE WITH THE DEMAND NOTE TO THE COMMISSIONER OF INLAND REVENUE, G.P.0. BOX 132, HONG KONG.

BUILDING SITE AT TSIM SHA TSUI SOLD FOR $145 MILLION

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A BUILDING SITE AT THE CORNER OF HING CHEUNG ROAD AND MING KWONG ROAD IN TSIM SHA TSUI EAST, KOWLOON, WAS SOLD FOR $145 MILLION AT AN AUCTION IN THE CITY HALL THEATRE TODAY (MONDAY).

THE SALE PRICE IS EQUIVALENT TO $61,702.13 PER SQUARE METRE.

THE SITE, FOR NON-INDUSTRIAL PURPOSES, WAS BOUGHT BY ROCOCO ESTATES LTD, AND MOON COURT LTD.

TWO OTHER LOTS, BOTH FOR NON-INDUSTRIAL USES, WERE ALSO SOLD.

ONE OF THEM, AT NO. 287-289 RECLAMATION STREET, KOWLOON, WAS BOUGHT BY KOON HÒ CO. LTD. FOR $4.1 MILLION.

THE OTHER, AT QUEEN'S ROAD CENTRAL, WAS SOLD TO RUDYARD ESTATES LTD. FOR $49 MILLION,

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