XN000022-1979-04-20 — Page 4

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FRIDAY, APRIL 20, 1979

GOVERNOR AND SHA CONGRATULATE HK TABLE TENNIS TEAM

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THE GOVERNOR, SIR MURRAY_MACLEHOSE AND THE SECRETARY FOR HOME AFFAIRS, MR. F.K. LI HAVE SENT TELEGRAMS CONGRATULATING THE HONG KONG TABLE TENNIS TEAM FOR WINNING BOTH THE MEN'S AND WOMEN'S TEAM AND SINGLES TITLES AT THE COMMONWEALTH TABLE TENNIS CHAMPIONSHIPS IN EDINBURGH, SCOTLAND.

IN HIS MESSAGE, SIR MURRAY SAID: +CONGRATULATIONS ON HONG KONG'S TEAM'S AND INDIVIDUAL'S SUCCESSES IN THE FIFTH COMMONWEALTH TABLE TENNIS CHAMPIONSHIP.+

MR. LI'S MESSAGE READ +CONGRATULATIONS TO THE HONG KONG CONTINGENT AT THE FIFTH COMMONWEALTH TABLE TENNIS CHAMPIONSHIPS ON WINNING THE MEN'S AND WOMEN'S TEAM CHAMPIONSHIP AS WELL AS

INDIVIDUAL AND TEAM MEDALS.+

TAX EXEMPTION ON INTEREST RAISED

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INTEREST PAYABLE BY LICENSED BANKS, BY CERTAIN PUBLIC UTILITIES AND BY THE GOVERNMENT AT RATES OF UP TO 7-3/4 PER CENT PER ANNUM WILL BE EXEMPTED FROM INTEREST TAX FROM TODAY (FRIDAY), A GOVERNMENT SPOKESMAN ANNOUNCED.

HE SAID THIS REPRESENTS AN INCREASE OF 1-1/2 PER CENT IN THE EXEMPTION LIMIT AND FOLLOWS THE ANNOUNCEMENT BY THE EXCHANGE BANKS' ASSOCIATION ON WEDNESDAY THAT THE RATE OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE SIMILARLY RAISED TO 7-3/4 PER CENT ALSO WITH EFFECT FROM TODAY.

THE CEILING ON THE POWER OF THE FINANCIAL SECRETARY TO INCREASE THE RATE UP TO WHICH INTEREST IS EXEMPTED FROM INTEREST TAX HAS BEEN RAISED FROM 7-1/2 PER CENT TO 7-3/4 PER CENT BY AN AMENDMENT TO SECTION 28 OF THE INLAND REVENUE ORDINANCE MADE UNDER A PUBLIC REVENUE PROTECTION ORDER SIGNED THIS MORNING (FRIDAY) BY THE GOVERNOR, SIR MURRAY MACLEHOSE.

THE PUBLIC REVENUE PROTECTION ORDER AND THE NOTICE SIGNED BY THE FINANCIAL SECRETARY ARE PUBLISHED IN AN EXTRAORDINARY GAZETTE TODAY.