TNAG-1654-FCO40-2302-Hong-Kong-Inland-Revenue-(Amendment)-Ordinance-1987-1987 — Page 15

A132

Ord. No. 28/87

INLAND REVENUE (AMENDMENT)

(b) in paragraph (d)—

(i) by inserting after "1984 and all subsequent years of assessment" the following-

"up to and including the year of assessment commencing on 1 April 1986";

(ii) by deleting the full stop and substituting the following-- "; and"; and

(c) by inserting after paragraph (d) the following-

Amendment of

8.

First Schedule.

"(e) for the year of assessment commencing on 1 April 1987 and all subsequent years of assessment, at the rate of 18 per cent.".

The First Schedule to the principal Ordinance is amended- (a) in the fourth paragraph by deleting "year of assessment 1984-85

and until superseded" and substituting the following—

"years of assessment 1984-85 to 1986-87 inclusive";

(b) inserting after the fourth paragraph the following-

Amendment of

9.

Second

Schedule.

"For the year of assessment 1987/88 and until superseded

-16 per cent.".

The Second Schedule to the principal Ordinance is amended- (a) by deleting "For the year of assessment 1985/86 and each year

thereafter" and substituting the following—

"For the years of assessment 1985/86 to 1986/87 inclusive"; and

(b) by inserting at the end thereof the following--

"For the year of assessment 1987/88 and each year thereafter-

SECOND COLUMN

(a) Upon the first $10,000

THIRD COLUMN

5 per cent

(b) Upon the next $10,000

10 per cent

(c) Upon the next $20,000

15 per cent

(d) Upon the next $20,000

20 per cent

25 per cent

19

帽

INLAND REVENUE (AMENDMENT)

(b) in Part 2 by—

Ord. No. 28/87

A133

-10 per cent".

(i) deleting "year of assessment 1979/80 and subsequent years

of assessment" and substituting the following

"years of assessment 1979/80 to 1986/87 inclusive"; and

(ii) inserting at the end the following---

"For the year of assessment 1987/88

and subsequent years of assessment

11. For the purpose of calculating net chargeable income under Transitional. section 63C(1) of the principal Ordinance in order to ascertain provisional salaries tax for the year of assessment commencing on 1 April 1987 the references in sections 12B(1)(b) and (2)(b) of the principal Ordinance to section 42B(1) shall be read as if they referred to section 42B(1) as amended by this Ordinance.

Passed by the Hong Kong Legislative Council this 27th day of May

1987.

LAW Kam-sang,

Clerk to the Legislative Council.

This printed impression has been carefully compared by me with

the bill, and is found by me to be a true and correctly printed copy of

the said bill.

LAW Kam-sang,

Clerk to the Legislative Council.

Amendment of

Fourth Schedule.

(e) Upon the remainder

10. The Fourth Schedule to the principal Ordinance is amended- (a) in Part 1 by—

(i) deleting "year of assessment 1979/80 and subsequent years

of assessment" and substituting the following--

"years of assessment 1979/80 to 1986/87 inclusive”; and

(ii) inserting at the end the following-

"For the year of assessment 1987/88

and subsequent years of assessment and

-10 per cent";

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