TNAG-0770-FCO40-974-Construction-of-underground-railway-system-in-Hong-Kong-1978 — Page 43

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12. Taxation

No provision has been made in these accounts for Property Tax on land and build- ings in use for the construction of the Railway or Interest Tax on interest received by the Corporation, as the Corporation maintains that it commenced business on the date of incorporation (26 September 1975) and all sums received by or accruing to it are charge- able to Profits Tax. This interpretation of the Inland Revenue Ordinance has not been confirmed by the Commissioner of Inland Revenue.

At 31 December 1977, on the basis that the Corporation commenced business on 26

September 1975, no liability existed in

respect of Profits Tax.

The Corporation also maintains that no

liability exists at 31 December 1977 for interest

Tax in respect of interest paid or credited, on

its various loan commitments.

13.Capital Commitments

Capital commitments not provided for in

the Balance Sheet in respect of land premiums and contracts entered into at 31 December

1977 were estimated as follows:

-

Modified Initial System 「修正早期系統」

十二、稅項

興建地下鐵路用土地及樓宇之物業稅, 或本公司所收得利息之利息稅,本賬均未有 繳稅準備。本公司係在註册成立之日(一九 七五年九月廿六日)開始經營,所有收益或 其累積之金額,均須繳付溢利稅。但此項稅 務條例之解釋,尚未獲得稅務局長之確認。

截至一九七七年十二月卅一日止,基於 上述原則以一九七五年九月廿六日爲本公司 開始經營之日期,本公司並無溢利稅負債。

截至一九七七年十二月卅一日止,如上 本公司認爲在各種貸欵承担方面付出或收 人之利息,亦無利息稅負債。

+

十三、資本性承担

截至一九七七年十二月卅一日止,本公 司在土地費用及工程合約方面已簽訂,但並 未列入資產負債表內之資本性承担,預計為:

Land premiums relating to GPO 郵政局舊址及金鐘地盤

1976

1977

$million

$million

百萬元

百萬元

13.Capital Commitments (Continued)

At 31 December 1977, the estimated cost of all contracts for the Modified Initial System, including an allowance for contractor claims, extra works and inflation, was in the opinion of the Board Members within the original

estimate of $5,800 million (excluding finance charges and interest) With the addition of the estimated cost of the Tsuen Wan Extension of $4,100 million, the total estimated cost of constructing the Railway approved to date is $9,900 million.

14. Contingent Liabilities

There are contingent liabilities at 31 December 1977 in respect of claims lodged against the Corporation under the Mass Transit Railway (Land Resumptions and Related Provisions) Ordinance 1974. It is not possible to quantify the contingent liabilities at this stage, but, at 31 December 1977 Government had paid $6.5 million under the advance payments scheme. The amount paid has been included under Construction Costs (note 4).

15. Comparative Figures

Adjustments have been made to the

comparative figures for 1976 to conform to the current year's presentation.

續十三、資本性承担

根據董事局意見,截至一九七七年十二 月卅一日止,「修正早期系統」所有工程合約 之費用,連同承建商要求之賠償額外工程以 及通貨膨脹之準備金在內,估計不超逾原預 算五十八億元之數(不包括貸欸費用及利息) 直至今日為止,加上擴建荃灣支綫預計所 需之四十一億元後,已批准之地下鐵路興建 預計總費用,共達九十九億元。

。

十四、或然債項

截至一九七七年十二月卅一日止,本公 可負有或然債項,此乃根據一九七四年集體 運輸鐵路(收回土地及有關規定)條例向本 公司提出之賠償要求。此項或然債項在目前 未能準確計算。但截至一九七七年十二月卅 一日止,香港政府已墊支六百五十萬元預付 賠償計劃之開支,此筆已付之欵項已記入興 建工程開支項內(附註四)。

十五、比較數字

為配合本年度賬項報格式,一九七六 年所用之比較數字已重新調整。

and Admiralty sites

Contract costs

之土地費用

工程合約費用

Tsuen Wan Extension 荃灣支機

437

2,109

3,060

2,546

3,060

Contract costs 工程合約費用

$2.50

永發單程車票

4

2,550

3,060

正鐵鯽入

$2.00

Single Journey Ticket

Ticket issuing machine

Sample tickets

Automatic fare collection gate

Passenger inserts ticket into

entry gate before boarding

單程車票

the train

Passenger collects ticket

before passing through the

gate

左至右:

售票機

車票樣本

自動收費閘口

乘客在登車前把車票放入

閘口。

乘客在通過閘口前取回車

票。

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Sample Journey Tachetn

依冐地下鐵公司傳新發行

正調旅入

insert Fet

$1.50

無鯢樂下辘踲公司镢例輕行 即日有效

innen his

$2.50

sida up

vald on day of issue only

Hound subject to conditions

Mass Traney! Rastway Corporation

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