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The total quantity of goods involved were 40,000 men's cotton woven boxer shorts and 3,672 ladies' cotton woven briefs worth $1.08 million.
The court heard that an investigation by officers of the Customs and Excise Department revealed that between March to May 1995, Parawin Industries Limited, through the arrangement of its director Mr Tse Fuk Chuen, contracted out to a factory in China for the production of the goods.
In order to obtain five Hong Kong quota licences to cover the goods for export to the United States, the company falsely declared in the export licence applications that the goods were of Hong Kong origin.
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Company fined for breach of Inland Revenue Ordinance
A company was today (Monday) charged for failing, without reasonable excuse, to notify in advance the Commissioner of Inland Revenue in writing of the resignation of a senior employee of the company and his departure from Hong Kong within the one-month period stipulated in the Inland Revenue Ordinance.
As a result of the belated notice, the Commissioner of Inland Revenue was unable to recover salaries tax due from the employee.
The defendant, Winterthur Swiss Insurance Co.. pleaded guilty to the charges and was fined $10,000 in the Western Magistracy.
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Water storage figure
Storage in Hong Kong's reservoirs at 9 am today (Monday) stood at 80.6 per cent of capacity or 472.368 million cubic metres.
This time last year the reservoirs contained 386.675 million cubic metres of water, representing 66 per cent of capacity.
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