TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 217

3.2.87

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67

Reduction in Standard Rate

130.

The reduction proposed in the standard rate

ill affect the amount of Profits Tax to be paid by

incorporated businesses, and reduce yields from Property

x and Interest Tax. Taken together, I estimate this

will cost a further $35 million in 1987-88 and $75 million

in a full year. The new standard rate will apply to

provisional and final assessments for 1987-88 on

unincorporated businesses, to provisional and final

assessments for 1987-88 in respect of Property Tax, and

also to final Interest Tax assessments for that year.

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