TNAG-1606-FCO40-22121-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1987 — Page 85

(Written Reply)

Question No. 12

REPLY BY THE FINANCIAL SECRETARY TO A QUESTION BY THE HON. MRS. RITA FAN IN THE LEGISLATIVE COUNCIL ON WEDNESDAY, 25 MARCH 1987

QUESTION :

SINCE THE ENACTMENT OF

OF THE INLAND REVENUE (AMENDMENT)(NO. 2) BILL 1984 ON 6TH FEBRUARY 1985 WHICH PROVIDED CERTAIN DISCRETIONARY POWERS TO THE COMMISSIONER OF INLAND REVENUE IN A CASE OF TAX DISPUTE, WILL GOVERNMENT INFORM THIS COUNCIL THE NUMBER AND TOTAL AMOUNT INVOLVED IN RESPECT OF THE FOLLOWING CASES UP TO FEBRUARY 1987 IN WHICH THE APPELLANT TAXPAYER WAS :

(i) REQUIRED TO MAKE IMMEDIATE PAYMENT IN

CASH;

(ii) REQUIRED ΤΟ PURCHASE TAX RESERVE

CERTIFICATES;

(iii) REQUIRED TO FURNISH A BANK GUARANTEE;

AND

Sir,

(iv)

GRANTED AN UNCONDITIONAL TAX BY THE COMMISSIONER?

HOLDOVER OF

Since the Inland Revenue

(Amendment) (No. 2)

Bill 1984 was enacted in February 1985, some 65 000

objections have been received. It is not possible to give precise figures for each category requested as this would involve extracting the required information from

each and every objection file. However, the estimated,

and actual figures, where available, are as follows -

Category

Number

Amount of tax

involved

(a)

Appellant taxpayers required to make

5 400 (estimated)

Not Available

immediate payment

in cash

(b)

Appellant taxpayers

required to purchase

1 674 (actual)

903,036,767

Tax Reserve Certificates