XN000022-1994-06-08 — Page 37

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WEDNESDAY, JUNE 8, 1994

"WE BELIEVE THAT THESE MEASURES WILL SET THE GROUND RULES UNDER MORE WHICH BOTH CONSUMERS AND SUPPLIERS WOULD BE ABLE TO BARGAIN ON A EQUAL BASIS.

MEASURES "THESE

WILL BE IN ADDITION TO

EXISTING

REMEDIES

11

MR

AVAILABLE UNDER COMMON LAW ON THE GROUNDS OF EQUITABLE PRINCIPLES,' CHAU SAID.

CONSUMERS BENEFIT FROM TAX CONCESSION

* *

CONSUMERS HAVE BENEFITED FROM THE ABOLITION OF DUTIES ON

ENTERTAINMENT TAX ON CINEMA TICKETS AND COSMETICS IMPOSED THE LAST TWO FINANCIAL YEARS.

DRINKS,

IN

REPLY TO A FOR

SOFT

IN

THE HUANG CHEN-YA, SAID SEVERAL SURVEYS GONE

AFTER THE DOWN

HON QUESTION BY DR THE SECRETARY

THE TREASURY, MR DONALD TSANG, INDICATED THAT PRICES OF THESE PRODUCTS HAD ABOLITION OF DUTIES.

EXCISE MR TSANG SAID THRER SURVEY CONDUCTED BY THE CUSTOMS AND

THE TAX DEPARTMENT IN

AFTER 1992 IN RETAIL PRICES OF SOFT DRINKS CONCESSION FOUND THAT PRICES HAD REDUCED BOTH AT THE WHOLESALE AND THE RETAIL LEVEL.

THE FIRST

HAD, ON IN MARCH 1992 FOUND SURVEY AVERAGE, DROPPED BY 7.2 PER CENT AT THE WHOLESALE LEVELS AND 4.5 CENT AT THE RETAIL LEVEL.

PRICES THAT

PER

THIS MEANT THAT 96.7 PER CENT OF THE BENEFIT ARISING FROM TAX CONCESSION WAS PASSED ON AT THE WHOLESALE LEVEL AND 66.5 PER AT THE RETAIL LEVEL.

THE

CENT

COUNCIL IN RETAIL AT THE

A SIMILAR PRICE SURVEY CONDUCTED BY THE CONSUMER 1992 ALSO CONFIRMED THAT RETAIL PRICES OF SOFT DRINKS AT MAJOR OUTLETS DURING THE THIRD QUARTER OF THE YEAR HAD STABILISED REDUCED LEVELS.

ΤΟ

RESULTS, SPECIAL PRICES DISTORTIONS IN THE SURVEY AVOID OFFERED AT PROMOTIONAL SALES WERE NOT TAKEN INTO ACCOUNT IN ANY OF THE ABOVE SURVEYS.

IN

+

LINE WITH THR UNDERTAKING BY THE TWO LARGEST CINEMA OPERATORS FOLLOWING THE 1992/93 BUDGET ON ABOLITION OF CINEMA TICKETS

UNTIL JUNE ENTERTAINMENT TAX, TICKET PRICES ALSO REMAINED UNCHANGED

1993.

A

CONDUCTED BY SURVEY

AND THE FRAGRANCE

BEAUTY PRODUCTS IN MARCH IMPORTERS' AND DISTRIBUTORS' ASSOCIATION AMONG ITS MEMBERS

MARKET 1993 SHOWED THAT MOST COSMETIC PRODUCTS AVAILABLE IN THE LOCAL

MARCH AND WOULD HAVE A PRICE REDUCTION OF 10 TO 12 PRR CENT BETWEEN MAY 1993.

0

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