XN000022-1990-07-05 — Page 6

THURSDAY, JULY 5, 1990

GOVERNMENT CONSIDERING TAX EXEMPTION FOR SHIPPING REGISTER

* * * * * *

THE SECRETARY FOR

ECONOMIC

CHAN, SAID PROPOSALS EXEMPTED FROM THE

SERVICES, MRS ANSON

TODAY (

(THURSDAY) THE GOVERNMENT IS ACTIVELY CONSIDERING WHICH WOULD MEAN THAT SHIPS REGISTERED IN HONG KONG WOULD BE FROM PAYING HONG KONG PROFITS TAX ON THEIR EARNINGS ARISING INTERNATIONAL OPERATION OF OCEAN-GOING SHIPPING.

SPEAKING AT

A LUNCH MEETING OF THE HONG KONG SHIPOWNERS APPROACH ASSOCIATION THIS AFTERNOON, MRS CHAN SAID THAT ONCE THE BEST

DETERMINED, THE TO THE QUESTIONS OF TAXATION OF SHIPPING PROFITS WAS

INLAND REVENUE GOVERNMENT WOULD SEEK THE NECESSARY AMENDMENTS TO THE ORDINANCE.

SHE SAID

THE

GOVERNMENT WELL UNDERSTOOD

THAT SHIPOWNERS GOVERNMENT'S POSITION ON WORLDWIDE WOULD WANT TO KNOW THE HONG KONG TAXATION BEFORE THEY COMMITTED THEMSELVES TO THE HONG KONG REGISTER.

"WE HAVE

BEEN

MUCH VERY REGISTER, THAT

THE ARE

PLANNING WATCHING

AWARE, ALL THROUGH SHIPOWNERS WORLDWIDE PROCESS FOR THE

MAKING FOR TAXATION OF CLOSELY TO SEE WHAT ARRANGEMENTS WE WILL BE HONG KONG-REGISTERED SHIPS, SHE SAID.

"IN CONSIDERING OUR POLICY IN THIS RECOGNISE THE KEEN COMPETITION AROUND THE WORLD, SHE SAID.

+

RESPECT, WE HAVE HAD ΤΟ WE FACE FROM ESTABLISHED REGISTERS

BY MEMBERS OF MRS CHAN PAID TRIBUTE TO THE CONTRIBUTION MADE

OTHER SECTORS OF ASSOCIATION HONG

THE THE

KONG SHIPOWNERS MARITIME COMMUNITY TO THE WORK OF DESIGNING THE NEW REGISTER.

AND

HELP, DESIGNED A REGISTER OF "I BELIEVE WE HAVE, WITH YOUR WHICH HONG KONG PEOPLE CAN BE PROUD NOW, AND IN THE FUTURE: ONE TERMS REFLECT THE HONG KONG GOVERNMENT'S COMMITMENTS INTERNATIONAL STANDARDS OF MARITIME SAFETY AND THE REALITIES OF COMMERCIAL ENVIRONMENT, SHE SAID.

DOING

BUSINESS IN

TODAY'S

WHOSE ΤΟ THE HIGHEST YET TAKE ACCOUNT OF HIGHLY COMPETITIVE

KONG SHIPPING

REGISTER

IS,

I

BETWEEN THE

NEW HONG "THE DESIGN OF THE BELIEVE, A FINE EXAMPLE OF THE BENEFITS OF GOOD TEAMWORK GOVERNMENT AND THE PRIVATE SECTOR, SHE ADDED.

"WE HAVE

THE PLANNING BEEN ACUTELY CONSCIOUS, THROUGHOUT

IS LEGALLY SOUND, PROCESS, THAT WE MUST PROVIDE FOR A REGISTER THAT

USER

KONG REPUTABLE,

WELL AS ENSURING THAT HONG

OPPORTUNITIES TO MEET SEAFARERS HAVE ACCESS TO APPROPRIATE TRAINING INTERNATIONAL STANDARDS," SHE STRESSED.

OF

FRIENDLY,

AS

STANDARDS HAVE

BASED INTERNATIONALLY

WE STANDARDS, CREW

AND

"BY SPECIFYING AND ENFORCING

CONSTRUCTION, EQUIPMENT VESSEL

OUR OBLIGATIONS UNDER PROVIDED FOR A SAFE REGISTER, CONSISTENT WITH

CONVENTIONS, IN PARTICULAR, THE INTERNATIONAL MARITIME ORGANISATION

CREW ON THE SAFETY OF LIFE AT SEA, TRAINING AND CERTIFICATION OF PROTECTION OF THE MARINE ENVIRONMENT.

AND

/"BY INSISTING