XN000022-1992-05-27 — Page 37

WEDNESDAY, MAY 27, 1992

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IRD COMPUTER ADEQUATE FOR REVENUE CALCULATION * * * * *

THE INLAND REVENUE DEPARTMENT'S COMPUTER SYSTEM IS PERFECTLY ADEQUATE FOR CALCULATING THE REVENUE GENERATED FROM DIRECT TAXES.

THIS WAS STATED BY THE ACTING SECRETARY FOR THE TREASURY, MR K.C. KWONG, IN A WRITTEN REPLY TO A QUESTION BY THE HON ERIC LI IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

EXPLAINING THE DIFFERENCE BETWEEN THE ESTIMATED BUDGET SURPLUS MENTIONED BY THE FINANCIAL SECRETARY IN HIS BUDGET SPEECH, AND THE SURPLUS ACCORDING TO THE "FIRST CLOSING" OF THE GOVERNMENT'S ACCOUNTS, MR KWONG SAID ONLY ABOUT 20% OF THE DIFFERENCE OF ABOUT $6 BILLION WAS ATTRIBUTABLE TO INCREASED TAX REVENUE COLLECTED BY THE DEPARTMENT.

HE SAID THE LARGEST CONTRIBUTION TO THE DEPARTMENT'S "SHARE" OF THE ADDITIONAL SURPLUS WAS STAMP DUTY (ABOUT $670 MILLION).

HE NOTED THAT THE ESTIMATED SURPLUS ANNOUNCED IN THE BUDGET WAS BASED ON THE REVISED ESTIMATES OF REVENUE AND EXPENDITURE MADE AT THE END OF JANUARY.

THE DEPARTMENT HAD THEN TO MAKE AN ESTIMATE OF THE TOTAL TAX REVENUE IT WOULD COLLECT IN THE FOLLOWING TWO MONTHS, UP TO THE CLOSE OF THE FINANCIAL YEAR.

BE

"IN THE CASE OF STAMP DUTY, COLLECTIONS FOR MARCH TURNED OUT TO EXCEPTIONALLY HIGH BECAUSE OF THE BUOYANT PROPERTY AND STOCK MARKETS, MR KWONG SAID.

DEVELOPMENTS NO HARM TO TUEN MUN ENVIRONMENT

RIVER

THE DEVELOPMENT OF A SPECIAL INDUSTRIES AREA (SIA) AND A TRADE TERMINAL (RTT) AT TUEN MUN WILL NOT HAVE AN UNACCEPTABLE ENVIRONMENTAL IMPACT ON THE RESIDENTIAL AREAS то THE EAST OR THE MARINE ENVIRONMENT OFF THE NEW RECLAMATION.

THIS WAS STATED BY THE SECRETARY FOR PLANNING, ENVIRONMENT LANDS, MR TONY EASON, IN A WRITTEN REPLY TO A QUESTION BY THE STEPHEN NG MING-YUM IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

AND

HON

MR EASON SAID THE GOVERNMENT HAD COMMISSIONED INVESTIGATE THE FEASIBILITY OF SUCH DEVELOPMENTS.

CONSULTANTS

TO

"THE INITIAL ENVIORNMENTAL IMPACT ASSESSMENT IF APPROPRIATE MITIGATION MEASURES ARE TAKEN AND MODERN POLLUTION CONTROL ARE APPLIED, THE SITE IS SUITABLE FOR DESCRIBED," MR EASON SAID.

HAS

SHOWN THAT, STANDARDS OF

THE PURPOSES

/WHILE THE