XN000022-1993-11-10 — Page 15

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WEDNESDAY, NOVEMBER 10, 1993

NEW CRITERIA TO EXAMINE MORE POTENTIAL TAXPAYERS

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MORE POTENTIAL TAXPAYERS WILL BE EXAMINED UNDER THE NEW SELECTION CRITERIA ADOPTED BY THE INLAND REVENUE DEPARTMENT FOR THE OPENING OF PROPERTY DEALING FILES.

UNDER THE NEW CRITERIA, A PROPERTY DEALING FILE WILL BE OPENED AFTER THREE TRANSACTIONS IN A SIX-YEAR PERIOD INSTEAD OF FOUR TRANSACTIONS AS UNDER THE OLD CRITERIA.

IN A WRITTEN REPLY TO A QUESTION BY THE HON LEE WING-TAT IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY), THE SECRETARY FOR THE TREASURY,

DONALD TSANG, SAID THE CRITERIA WERE ADOPTED AFTER A REVIEW COMPLETED IN JULY THIS YEAR.

MR

FILE IS

UNDER THE NEW SELECTION CRITERIA, A PROPERTY DEALING OPENED AND A QUESTIONNAIRE ISSUED IF A PERSON, OTHER THAN A "CONFIRMOR", THAT IS, A PERSON WHO ENTERS INTO A SALE AND PURCHASE AGREEMENT TO ACQUIRE A PROPERTY AND THEN RE-SELLS BEFORE ASSIGNMENT, HAS HAD:

THREE OR MORE PROPERTY TRANSACTIONS WITHIN A SIX-YEAR PERIOD FROM APRIL 1, 1987; OR

A SINGLE SALE OF PROPERTY HELD FOR LESS THAN TWO YEARS WITH GROSS PROFIT ARISING FROM THE SALE EXCEEDING $200, 000.

MR TSANG SAID THE PREVIOUS PRACTICE OF EXAMINING ALL CASES INVOLVING CONFIRMORS TO ASCERTAIN THEIR TAX LIABILITY WOULD CONTINUE.

AIRPORT RECLAMATION BASED ON ACCUMULATED EXPERIENCE

THERE IS SO FAR NO EVIDENCE OF ANY MAJOR PROBLEM ON SETTLEMENT OF THE RECLAMATION AT THE CHEK LAP KOK AIRPORT, THE SECRETARY FOR WORKS, MR JAMES BLAKE, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

IN REPLYING TO A QUESTION BY THE HON CHIM PUI-CHUNG, MR JAMES BLAKE SAID THE EXPERIENCE OF SUBSIDENCE OF FOUNDATION AT SOME AIRPORTS BUILT ON RECLAIMED LAND IN OTHER PLACES WAS NOT APPLICABLE TO CHEK LAP кок.

HE SAID IN DESIGNING THE RECLAMATION WORK FOR THE REPLACEMENT AIRPORT AT CHEK LAP KOK, REFERENCE HAD BEEN MADE TO EXPERIENCE ON MAJOR RECLAMATION WORKS BOTH IN HONG KONG AND OVERSEAS COUNTRIES.

"A TEST EMBANKMENT WAS CONSTRUCTED AT CHEK LAP KOK AS LONG AS 1982 TO EVALUATE THE CHARACTERISTICS OF THE SOILS AT THE SITE THE FUTURE AIRPORT,"

AGO

OF

/BASED ON