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"Separately, I will issue a Practice Note to cover cases involving the payment of inflated management fees to service companies using the existing provisions in the Inland Revenue Ordinance," he added.
Mr Au-Yeung said one major development in 1994-95 was the introduction of a composite tax return system on April 1, 1994.
"Individuals now report in a single return all their incomes from certain chargeable sources, namely incomes from employment, properties and unincorporated businesses.
"This has not only streamlined the work of the department by reducing the number of returns filed by taxpayers but has also simplified matters for taxpayers who have more than one source of income," he said.
"The introduction of the new system represented another move towards simplification of our tax system. Its adoption led to the deletion of 254 posts and an annual savings of some $52.8 million," he added.
On the department's performance as a whole, Mr Au-Yeung said his staff would continue to regard the provision of high quality service to taxpayers as a matter of importance.
"I am glad that the department is able to deliver the majority of its performance pledges on target. My in-house service standards team will continue to work with the Users' Committee, which is an independent body with a broadly based membership, to review our performance targets and to recommend the introduction of new pledges," Mr Au-Yeung elaborated.
End/Wednesday, December 14, 1994
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