XN000022-1987-11-04 — Page 25

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WEDNESDAY, NOVEMBER 4, 1987

APPROPRIATE TIME FOR SOME TAX RELIEF

本章

:

THE GOVERNMENT SHOULD CONSIDER PROVIDING SOME RELIEF ΤΟ THOSE TAXPAYERS WHOSE ANNUAL INCOME FELL WITHIN THE RANGE OF $150,001 ΤΟ $400,000, THE HON STEPHEN CHEONG TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

THESE

"THE LATEST STATISTICS SHOWS THAT TAXES COLLECTABLE FROM TAXPAYERS (NUMBERING A TOTAL OF 77,581 PERSONS) AMOUNTED TO $2.56 BILLION REPRESENTING 44.98 PER CENT OF TOTAL COLLECTABLE SALARIES TAX. THE RELIEF IS PERHAPS LONG OVERDUE," MR CHEONG SAID DURING DEBATE ON THE GOVERNOR'S POLICY ADDRESS.

THE

"THESE TAXPAYERS GENERALLY OCCUPY POSITIONS AS OUR SECOND AND THIRD TIER EXECUTIVES IN BOTH OUR PRIVATE AND PUBLIC SECTORS. THEY ARE INDEED THE BACKBONE OF OUR SOCIETY NOW, AND WILL ONE DAY LEAD SOCIETY.

OUR

"THE EXPENDITURE OUTLAYS OF THIS GROUP OF PEOPLE ARE HIGH IN RELATION TO THEIR DISPOSAL INCOME. IT HAS BEEN REALLY TOUCH TO ACHIEVE ANY REASONABLE DEGREE OF SAVINGS.

FOR THEM

++

'HENCE, AT A TIME WHEN THE GOVERNMENT'S COFFERS ARE BE FLUSH WITH WINDFALL REVENUES THIS YEAR, A MODICUM OF TAX FOR THIS GROUP OF TAXPAYERS SHOULD COMMAND HIGH PRIORITY.

LIKELY

то RELIEF

PER

"FVEN IF THEIR TOTAL CONTRIBUTIONS WERE TO BE CUT BY 25 CENT, THIS WOULD ONLY COST THE GOVERNMENT APPROXIMATELY $500 PER ANNUM.

MILLION YET, THE INTANGIBLE MORALE BOOSTING EFFECT ON PEOPLE WOULD BE SO TREMENDOUS THAT

WOULD POSITIVELY TOWARDS HONG KONG'S CONTINUED PROGRESS.

ינין

"

BE

THESE CONTRIBUTE

CAUTIOUS IN BUSINESS COMMUNITY IN EVEN A ONE PER CENT BE RNOUGH ΤΟ PROVIDE

HOWEVER, MR CHRONG SAID THE GOVERNMENT SHOULD ANY CONSIDERATION OF FURTHER TAX CUTS FOR THE THE 1988-89 BUDGET AS A ONE-HALF PER CENT OR REDICTION IN CORPORATE PROFITS TAX WOULD NOT MOCH STIMULUS TO ECONOMIC ACTIVITY.

ON OTHER ISSUES, MR CHEONG SAID THE LONG-TERM STRATEGIES, PRESENTED BY THE GOVERNOR, CLEARLY DEMONSTRATED THE COMMITMENT TO WORKING RESPONSIBLY AND RESPONSIVELY FOR THIR OF HONG KONG.

AS

GOVERNMENT'S WELL-BEING

HOWEVER, DESPITE THE SIGNIFICANT PROGRESS NADE ON MANY DONG KONG STILL HAD TO ADDRESS A LOT OF PROBLEMS.

FRONTS

ALL

ZIUCH WORK STILL NEEDED TO BE DONE AND, го BF SUCCESSFUL, SECTORS OF THE COMMUNITY JJAD TO WORK TOGETHER WITH DEDICATION, RESOLUTION. PRAGMATISM, UNDERSTANDING AND, ABOVE ALL,

1 OF COMPROMISR.

WITH A SPIRIT

"UNFORTUNATELY, WHILE