TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 29

SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY IN LEGISLATIVE COUNCIL : WEDNESDAY 29 MAY 1985

Proposed Resolution under Section 4 of the

Dutiable Commodities Ordinance

Duty on non-alcoholic beverages and cosmetics

Sir,

The proposed resolution provides for the introduction of duties that shall be payable on non alcoholic beverages at the rate of $60 per hectolitre and on cosmetics at the rate of 25% on the CIF price for imported, or wholesale price for locally produced, cosmetics.

These duties came into effect on 27 February 1985 as a result of the Public Revenue Protection Order signed by Your Excellency. The proposals should produce revenue of the order of $100 million and $210 million for cosmetics and non alcoholic beverages respectively in 1985-86.

Sir, I beg to move.