TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 30

Sir.

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

Proposed Resolution under Section 4 of the Dutiable Commodities Ordinance

Increased duty on beer, non-European type wines and spirits, ethyl alcohol, tobacco, hydrocarbon oils and methyl alcohol

The proposed resolution provides for increases in existing duties as explained in my 1985 budget speech.

Apart from raising duties, these proposals

remove the differential rate on commodities of Hong Kong and non Hong Kong origin; namely beer, non European-type wines and spirits, and ethyl and methyl alcohol. In addition, the differential between unmanufactured raw tobacco and imported manufactured cigarettes has been reduced to its lowest level since its introduction in 1949.

These increased duties came into effect on

27 February 1985 as a result of a Public Revenue Protection Order signed by Your Excellency. The proposals are expected to produce additional revenue in 1985-86 in the different categories as follows beer, $125 million; non European- type wines and spirits, $13 million; industrial type liquors, $2 million; oils, $110 million.

tobacco, $110 million; and hydrocarbon

Sir, I beg to move.

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