Amendment of section 15.
2
3. Section 16(1)(c) of the principal Ordinance is amended by deleting “or (k)” and substituting the following
Amendment of section 42B.
4.
Transitional.
“, (k) or (1)”.
Section 42B(1) of the principal Ordinance is amended-----
(a) in paragraph (aa) by—
(i) deleting “$7,500” wherever it occurs and substituting the following-
“$8,500”; and
(ii) deleting “$28,000” wherever it occurs and substituting the following-
(b) in paragraph (66) by—
"$29,000";
(i) deleting “$17,000” wherever it occurs and substituting the following-
“$19,000”; and
(ii) deleting “$58,000” wherever it occurs and substituting the following-
“$60,000”; and
(c) in paragraph (d) by deleting “$8,000” and substituting the following-
5.
"$9,000".
For the purpose of calculating net chargeable income under section 63C(1) to ascertain provisional salaries tax for the year of assessment commencing on 1 April 1986 the references in sections 12B(1)(b) and (2)(b) tp section 42B(1) shall be read as if they referred to section 42B(1) as amended by this Ordinance.
Explanatory Memorandum
This Bill implements the 1986 Budget proposals for concessions in respect of profits and personal taxes.
2. Clause 2, amending section 15 of the Ordinance, repeals provisions introduced in 1984 to render chargeable to profits tax interest accruing from the carrying on of a business in Hong Kong, notwithstanding that the funds from which the interest is derived were made available outside Hong Kong, and which made analogous provisions in the case of gains or profits accruing from transactions in certificates of deposit and bills of exchange.
3. So far as taxpayers other than financial institutions are concerned, clause 2 substitutes provisions which revert to the position existing prior to the 1984 amendments, namely that the interest, gains or profits are chargeable to tax so long as they arise in or are derived from Hong Kong. With regard to financial institutions, the clause inserts a provision to ensure that gains or profits on transactions in certificates of deposit and bills of exchange continue to be chargeable notwithstanding the fact that the transaction may have taken place outside Hong Kong.
4. The amendments will take effect in respect of sums accruing on or after 1 April 1986.
5. Clause 3 amends section 16 in relation to double taxation relief and is consequential upon clause 2.
6. Clause 4 provides for—
(a) an increase in the additional personal allowance for single persons from
$7,500 to $8,500;
(b) an increase in the additional personal allowance for married persons from
$17,000 to $19,000; and
(c) an increase in the allowance for a dependent parent from $8,000 to $9,000.
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7. Clause 5 ensures that provisional salaries tax for the year of assessment commencing on 1 April 1986 is based upon the new allowances.
8. The cost to the general revenue of the proposals contained in the Bill is estimated at $327 million in 1986-87 and thercafter at $330 million per annum at present levels of chargeable income and profits. The Bill has no Public Service staffing implications.
一九八六年稅務(修訂)(第二號)條例草案
摘要說明
本條例草案實施一九八六年政府財政預算案中關於寬減利得稅和個 人所得稅的建議。
二、草案第二條修訂
條例第十五條,把一九八四年所訂的條款撤銷
;那些條款原規定:凡在本港經營業務所滋生的利息,縱使生息的款項來日本 港以外地方,都須要繳納利得稅;此外,那些條款原亦對來自存款證和匯票交 易的賺價或利潤,制定類似條款。
三
對於財務機構除外的納稅人來說,草案第二條所訂的替代條款,把 一九八四年條文作出修訂前的原有規定恢復原狀,即:凡在本港滋生或來自本 港的利息、賺價或利潤才須課稅。至於對財務機構來說,草案第二條在原文加 挿一條款,從而規定:來自存款證和匯票的交易雖然可能在本港以外地方進行
但其賺價或利潤亦須如常課稅。
四 本草案所作修訂,對一九八六年四月一日或該日之後的應計款項 用。
。
五、 草案第三條修訂原有條例第十六條關於雙重課稅寬免稅項的規定, 這項修訂是因應草案第二條的規定而作出。
六、 草案第四條規定把------
(a)
單身人士的額外個人免稅額由7,500元提高至8,500元;
(b) 已婚人士的額外個人免稅額由17,000元提高至19,000元;及
(c)
供養父母基本免稅額由8,000元提高至9,000元。
七、 草案第五條規定:一九八六年四月一日起計評稅年度的暫繳薪俸稅 ,必須按照新訂免稅額評稅。
八、 就目前應課入息和利潤水平來說,本草案所提出的建議,預料會使 政府在一九八六至八七年度的一般收入減少3.27億元,而其後每年減少3.3億 元。本草案對政府人手需求方面則沒有影響。
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