TNAG-1772-FCO40-25242-Business-and-financial-legislation-in-Hong-Kong.-Part-2-of-2-1988 — Page 83

HONG KONG

LEGAL REPORT

INLAND REVENUE (AMENDMENT) ORDINANCE 1988

(No. 28 of 1988)

Enclosure No. 2

The object of this Ordinance is to amend the Inland Revenue Ordinance to grant concessions to persons liable to pay tax under the Ordinance by

(a)

(b)

(c)

2.

reducing the standard rate of tax and the rate of profits tax;

revising the graduated scale of tax rates so as to slow down the rate at which taxpayers move to the higher tax brackets; and

increasing certain existing allowances and granting a new allowance in respect of working wives.

Before the Governor assented to the Bill in the name and on behalf of Her Majesty, the Attorney General advised that he could properly do so.

Ани

Kumb

Law Draftsman.

20 June 1988.

ATTORNEY GENERAL'S CHAMBERS,

HONG KONG.