XN000022-1985-05-29 — Page 18

ISDAY, MAY 19, 1955

16

WINES, SPIRITS DUTY RISES APPROVED

****

A MOTION INCREASING THE DUTIES ON BEER, NON-EUROPEAN TYPE WINES AND SPIRITS, ETHYL ALCOHOL, TOBACCO, HYDROCARBON OILS AND METHYL ALCOHOL WAS APPROVED BY THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

THE MOTION ALSO REMOVED THE DIFFERENTIAL RATE ON COMMODITIES OF HONG KONG AND NON-HONG KONG ORIGIN, NAMELY, BEER, NON-EUROPEAN TYPE WINES AND SPIRITS, AND ETHYL AND METHYL ALCOHOL.

MOVING THE RESOLUTION, THE FINANCIAL SECRETARY. THE HON SIR JOHN BREMRIDGE SAID THE DIFFERENTIAL BETWEEN UNMANUFACTURED RAW TOBACCO AND IMPORTED MANUFACTURED CIGARETTES HAD ALSO BEEN, REDUCED TO ITS LOWEST LEVEL SINCE ITS INTRODUCTION IN 1949.

SIR JOHN POINTED OUT THAT THE INCREASED DUTIES HAD COME INTO EFFECT ON FEBRUARY 27 THIS YEAR, WHEN THE GOVERNOR SIGNED THE PUBLIC REVENUE PROTECTION ORDER.

THE PROPOSALS WERE EXPECTED TO PRODUCE ADDITIONAL REVENUE OF $360 MILLION IN 1985-86.

SOFT DRINK, COSMETIC DUTIES APPROVED

***

A MOTION PROVIDING FOR DUTIES TO BE PAID ON NON-ALCOHOLIC BEVERAGES AND COSMETICS WAS APPROVED BY THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MOVING THE RESOLUTION, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, POINTED OUT THAT THE DUTIES HAD COME INTO EFFECT ON FEBRUARY 27 THIS YEAR, WHEN THE GOVERNOR SIGNED THE PUBLIC REVENUE PROTECTION ORDER,

THE RESOLUTION PROVIDED FOR THE INTRODUCTION OF DUTIES PAYABLE ON NON-ALCOHOLIC BEVERAGES AT THE RATE OF $60 PER HECTOLITRE AND ON COSMETICS AT THE RATE OF 25 PER CENT ON THE CIF PRICE FOR IMPORTED, OR WHOLESALE PRICE FOR LOCALLY PRODUCED COSMETICS, SIR JOHN SAID.

THE PROPOSALS SHOULD PRODUCE REVENUE OF $100 MILLION FOR COSMETICS AND $200 MILLION FOR NON-ALCOHOLIC BEVERAGES IN 1985-86, HE SAID.

C

/17