XN000022-1981-10-07 — Page 32

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WEDNESDAY, OCTOBER 7, 1981

TAX FREE INTEREST RAISED

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INTEREST PAYABLE BY LICENSED BANKS, BY CERTAIN PUBLIC UTILITIES AND BY THE GOVERNMENT AT RATES OF UP TO 13-1/2 PER CENT PER ANNUM WILL BE EXEMPTED FROM INTEREST TAX FROM TODAY (WEDNESDAY), 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 HONG KONG ASSOCIATION OF BANKS ON FRIDAY THAT THE RATE OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE SIMILARLY RAISED TO 13-1/2 PER CENT ALSO WITH EFFECT FROM TODAY.

SECTION 28 OF THE INLAND REVENUE ORDINANCE HAS BEEN AMENDED, BY A PUBLIC REVENUE PROTECTION ORDER SIGNED BY THE GOVERNOR, TO RAISE FROM 12 PER CENT TO 13-1/2 PER CENT THE CEILING ON THE POWER OF THE FINANCIAL SECRETARY TO INCREASE THE RATE UP TO WHICH INTEREST IS EXEMPTED FROM INTEREST TAX.

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

SURVEY OF EMPLOYMENT, VACANCIES AND PAYROLL

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A SURVEY OF EMPLOYMENT, VACANCIES AND PAYROLL IN MAJOR ECONOMIC SECTORS OF THE ECONOMY IS BEING CARRIED OUT THIS MONTH BY THE CENSUS AND STATISTICS DEPARTMENT.

THE SURVEY RESULTS ARE USEFUL IN PROVIDING SHORT-TERM ECONOMIC INDICATORS AS WELL AS INFORMATION ON STRUCTURAL CHANGES IN THE LABOUR MARKET IN HONG KONG.

A SAMPLE OF ABOUT 38 000 IS DRAWN FROM ESTABLISHMENTS IN VARIOUS SECTORS, INCLUDING INDUSTRIAL, SERVICE AND DISTRIBUTIVE TRADES (WHOLESALE, RETAIL, IMPORT AND EXPORT, RESTAURANTS AND HOTELS), WHILE GENERAL BUILDING CONTRACTORS ARE COVERED IN FULL.

INFORMATION ON THE NUMBER OF PERSONS ENGAGED AND EXISTING VACANCIES ON SEPTEMBER 30 WILL BE ASKED OF EACH ESTABLISHMENT.

SOME 10 000 ESTABLISHMENTS WILL BE SELECTED FROM THE SAMPLE AND ASKED ADDITIONAL INFORMATION ON PAYROLL IN EACH OF THE THREE MONTHS DURING THE REFERENCE PERIOD OF JULY TO SEPTEMBER.

QUESTIONNAIRES ARE BEING MAILED TO INDIVIDUAL BUSINESS ESTABLISHMENTS IN EARLY OCTOBER. IN ACCORDANCE WITH THE CENSUS AND STATISTICS ORDER 1981 (LEGAL NOTICE NO. 25 OF 1981, GAZETTED ON JANUARY 27, 1981), ESTABLISHMENTS RECEIVING QUESTIONNAIRES ARE REQUIRED TO COMPLETE AND RETURN THEM TO THE CENSUS AND STATISTICS DEPARTMENT WITHIN THE SPECIFIED PERIOD.

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