and
At the same time, in collecting such taxes, the Government has to greatly increase its staff. Expenses in this respect, in the final, analysis, will have to
rise, general public Prices
borne
the
eventually.
will
the
by purchasing power of the people will decrease, the standard of
and down,
4
be
5
6
7
8
9
10
11
the
there will be clamour
go
for living will
wage
increases. This will accelerate inflation, dealing a blow not also industrial and commercial centre, but will only to affect tourism. Cheap commodities will become expensive, and tourists will spend their money elsewhere. detrimental to our economy. It may even affect our position as
an international financial centre.
All these will be
7
12
13
14
Сто
The broadening of the indirect
taxation
net, will actually lead
15
16 The levying of taxes on non-alcoholic drinks has created
to more losses
17
18
different
resentment in
from
society. our
some
other
than gains.
caused
Hong
environment Kong's
is
countries, tap/water
is
not
"
19
drinkable. Our people,
people,
20
quench their thirst by
drinking
21
22
the
am
23
24
€1.25
base,
are
-26
27
28
29
30
31
32
33
suggest the following.
If
34
35
Rather, regarding
some
commodities
36
unreasonably,
particularly particularly young students, usually
soft-drinks. This is not a
luxury but rather a daily necessity. Should we further widen base for indirect taxation to cover other daily necessities? I'm
IS
the
Sure it will be met with greater resentment. In short, those most affected by the broadening of the indirect
tax
cannot They the grass roots.
enjoy concessions in profit-rax and Property Tax, and they will have
property-Tax, to share the burden of indirect taxation with the better-off in
society.
the This is unfair. No wonder, the suggestion of Financial Secretary to widen the base of indirect taxation, is
met with immediate objection to the masses.
I would like to
our economy continues to be
to be good,
the Government should not widen the base for indirect taxation.
for instance, non-alcoholic drinks.
levied
the
Therefore,
which on
tax is
1
situation should be reviewed and exemption considered.
Even if
2
there is an economic downturn and we have to increase revenue
to lo sv.
3
to meet expenditure, we should think of other means
L
4
5
END
ÎDAQ FATAREN
6
7
Page 240Page 241
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