XN000022-1981-02-20 — Page 6

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FRIDAY, FEBRUARY 20, 1981

GAINS TAX BILL GAZETTED

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THE INLAND REVENUE (AMENDMENT)(NO. 2) BILL 1981, WHICH SEEKS TO CLARIFY THE LIABILITY TO TAX OF GAINS ARISING ON CERTIFICATES OF DEPOSIT AND BILLS OF EXCHANGE, WAS GAZETTED TODAY.

A GOVERNMENT SPOKESMAN SAID THE INTENTION TO INTRODUCE THIS LEGISLATION WAS ANNOUNCED BY THE FINANCIAL SECRETARY IN HIS 1980 BUDGET SPEECH.

THE BILL WILL ALSO

* REMOVE AN ANOMALY UNDER WHICH INTEREST, ALREADY SUBJECT

TO WITHHOLDING TAX, PAID BY TRUSTEES TO BENEFICIARIES IS CHARGED TO TAX A SECOND TIME-

* CLARIFY THE PROFITS TAX LIABILITY OF TRUSTEES WHO CARRY

ON A TRADE, PROFESSION OR BUSINESS IN HONG KONG AND

* RATIFY THE LONG ESTABLISHED PRACTICE OF THE INLAND

REVENUE DEPARTMENT OF GRANTING DEPRECIATION ALLOWANCES ON CAPITALISED INTEREST INCURRED FOR THE PURPOSE OF FINANCING THE ACQUISITION OF BUILDINGS AND MACHINERY OR PLANT.

FIRE BAN TO BE LIFTED IN TAI LAM COUNTRY PARK

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THE BAN ON THE LIGHTING OF FIRES IN TAI LAM COUNTRY PARK WILL BE LIFTED FROM TOMORROW (SATURDAY), A SPOKESMAN FOR THE COUNTRY PARKS AUTHORITY ANNOUNCED TODAY.

THE DECISION TO LIFT THE BAN, IMPOSED ON JANUARY 16, WAS MADE IN VIEW OF THE WET WEATHER CONDITIONS IN RECENT DAYS, THE SPOKESMAN SAID.

HOWEVER, HE EMPHASISED THAT DESPITE THE REMOVAL OF THE BAN, PICNICKERS SHOULD ONLY BARBECUE IN DESIGNATED AREAS AND CAMPING SITES. IT IS AN OFFENCE TO BARBECUE ANYWHERE ELSE IN A COUNTRY PARK.

HE REMINDED THE PUBLIC THAT LIGHTING FIRES ILLEGALLY IN THE COUNTRY PARKS COULD RESULT IN A MAXIMUM FINE OF $5 000 AND THE MAXIMUM FINE FOR ILLEGAL FIRES ELSEWHERE IN THE COUNTRYSIDE IS $2 000.

A TOTAL OF 211 CASES OF ILLEGAL FIRES WERE BROUGHT BEFORE THE COURTS LAST YEAR. THESE RESULTED IN FINES TOTALLING $36 850 BEING IMPOSED ON THE OFFENDERS, THE SPOKESMAN SAID. ANOTHER 40 CASES ARE STILL AWAITING HEARING.

+ THE BAN ON LIGHTING FIRES COULD BE RE-INTRODUCED IN TAI LAM COUNTRY PARK OR ANY OTHER COUNTRY PARKS SHOULD WEATHER BECOME WINDY AND DRY AGAIN, HE SAID,

/+FIRE IS