1984-03-06 — Page 20

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和料料港

港市場,去年離港的数

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料

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:力鹋進海外物品。英國

见[內預料回升至百分之六或百分之七。高窟曼又接 爾本年美國利率普遍升高一厘,但仍不足以阻止 失業率低至百分之七,通貨棧服率跌勢已竭,年 西宫受預測年底前生產力運用率爲百分之十, 難以持久,終必於年底造成工資物價上升壓力。 開成授意率可望采到百分之七,做此的变成效激 幽經濟表現超出期望,本年首季國民生產總值實 (一)紐約所羅門兄弟公司高富曼表示,美

經濟府目前動力發展

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日六月三年四八九一年三十七國民華中 育教濟經

國|全佛 -

華

產破告宣 僑

- 安本銀行的分行·重新

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,

佛羅里達州維吉尼亞 -美國聯邦準墉理事會說

華僑經濟

(華盛頓四日電)

1984

中學會考試題預習專欄

Duties, Excise Duty,

Betting Duty, Stamp Duty, Entertainment Tax and Hotel Accommodation Tax.

Custom Duties are the

taxes which are charged on four groups of

經 濟 (廿四) 明德出版社 王啓光指

ANGARH imported commodities

ECONOMICS. (24)

K.K. WONG & L.T. CHAN.

MILL & DALE PRESS LTD.

Public Finance

Distinguish between direct taxes and indirect taxes so as to show their advantages. Give local examples of each, What would be the probable economic consequences if heavier taxation îs composed to Hong Kong?

A direct tax is the taxation which is paid directly by individuals or companies on whom it is actually levied. The tax burden is exactly bare by the tax payers. and the tax is levied on. the taxable income of the individuals or companies Examples of the direct taxes are the Salaries Tax, Profits Tax, Property tax, Interest Tax, Estate Duty, Licences Fees and Rate. in Hong Kong.

The Salary Tax is charged on any individual vho is in receipt of

income from any employ- meat in Hong Kong. It is. charged on a sliding scale from 5% to 30%, using the progressive tax rate. The taxable income. is derived after deduction of various allowances which very with the individual and family circumstances.

Profits Tax is charged on any profits derived & from the trade and

business' in Hong Kong. The standard tax rate of a corporation is 17% where the unincorporated business is a standard rate of 15%

Interest Tax is cliarged at the standard rate of 15% on interest arising in or derived from Hong. Kong. It is the tax which levied on the interest derived from any deben- ture, mortgage, biH of sale, deposit, loan, advance or other indebt- edness.

Property Tax is charged at the standard rate of 15% on 80% of the access- able current market rental value. Every owner with a property in Hong Kong is necessary to pay. this amount of payment.

Besides, Estate Duty is the duty imposed in a dead person's property, money or estate. Licence. Fees is levied on all business except the non- profit, making business and some charitable organizations. Fate is charged as a certain percentage of the estimate yearly letting value of land or a

or occupied property held for by a person.

An direct tax is the taxation which levied on goods and services. It is usually levied on expendi ture and is sometimes

called outley taxes. Examples of the

alchoholic liquors

tobacco, certain hydro- carbon pits and methyl. Excise Duties are the taxes which are charged. the above four groups locally manufactured commodities.

Stamp Duty is modelled on the British system which imposes fixed duty

on certain classes of documents and an advalorem duty on others. | Betting Duty is the

duty on Horse betting and on cash sweep contribu- tion. The operation of Betting Duty is solely conducted by the Royal Hong Kong Juckey Club.

Besides, the Entertain- ment Tax is charged on the prices of admission to race meetings and cinemas. The Hotel Accommodation Tax is. imposed on hotal and": guest houses. The Royalties and Concession are payment which the government received from public utility companies. such as bus company, electric company, etc. which enjoy monoplistic

franchises.

Compared direct taxation with Indirect taxation, several distinctions can be drawn: (1)Direct taxation is

levied on wealth and Income where indirect taxation is levied on expenditure. (2)Direct taxes are

usually charged by the government. The taxes are directly paid by the tax payers to the

Gov't. Indirect taxes are. usually borne by the

and are not consumers. paid by themselves directly to the government but through somebody else. (5)Direct taxes are

based on the Ability- To-Pay Principle. It means that people. should be

accordinaxed

to their income level. The higher income group.

should pay more Indirect taxes are Justified by the Benefit Principle. It means that those who get satifaction by consuming goods an el services should be taxed accordingly. (4)The incidence of

indirect tax may be

buyer or

ori

depending on.

elasticity of demand of the commodity on which the tax has been imposed. If the commodity is more elastic, the tax burden would be easily hifted to the buyer.

It is easier to deter- mine the incidence of a direct tax but it is. difficult to determine the incidence of an indirect tax especi- ally when the taxed: goods are elastic in demand.

indirect taxation in Hung (5)Indirect taxes are Kong are the Custom

usually regressive,

The lower incoge group suffer from it because they bear the majority of the tax burden. If the prices

of the commodities are raised, general price level will be bid up and it will be easy to cause. inflation problem. (6)Direct taxes are

generally in progres- sive tax rate. It is said that indirect taxes can widen the gay between the rich and the poor people. with large families. Therefore, direct

tax cal achieve more even distribution of wealth in the economy (7)Direct tax can

directly influence. the income and “individual or a family. Since more

taxes are required to pay in respect to higher income, it may discourage individ- uels from spending seeking additional income

(8)It is easier t

estimate the amount of revenue that can be collected from direct taxes. It is difficult to compute the exact amount that would be yield by the indirect taxes.

(9)Direct taxes may

cause harm to the working incentive, investment incentive and the saving · incentive of the firms and individuals (10) Tax evasion and tax

avoidance are more frequent and much easier for indirect taxes. Since then, the administration cost of indirect. taxes is relatively heavier than of direct taxes.

The following are the probable economic consequences of imposing heavier taxation in Hong Kong:

1. High salaries tax

reduces taxpayers disposable income for consumption, and discourage peoples incentives to work overtime and to seek for promotion.

2. Heavier profits tax

reduces businessments savings and net profits, Loanable funds in the economy. will fall, and investment becomes expansive. Economic activities will

shrink as a result. 3. Heavier indirect taxes would lead to arise in prices of necessities. Thus it results in inflation which cause haru to thre competitiveness of Hong Kong's exports. In general, heavier taxation ends Lo

greater government

revenne, but

discourage foreign

investment flowing to Hong Kon

歷

史 廿四)

HISTORY (24)

Viola Kong yuk-yu

MILL & DALE PRESS LTD.

Describe the changes in KMT-CCP relations in the period 1921 - 1937. Give reasons for the changes. The KMT and CCP cooperated in 1923 1927. This was known as the First KMT-CCP Coalition. However, the two parties fought against each other, mainly the KMT chasing after the CCP, from 1928 to 1955. Then in 1936, the two parties allied with each other again. This was the Second KMT-CCP Coalition.". The facts are

chronological and therefore easy to assemble, as the question is a general one. You must, however, remember to give reasons for the changes in the relation- ship between the KMT and CCP, e.g. why the two parties cooperated at first, why the coopera- tion then broke down, and lastly why the two parties

cooperated again.

1. 1923 £7 First KMT-

CCP Coalition

Coalition is just another word for

cooperation.

Reasons: ̈

Encouragement by

Soviet Russia – Soviet Russia believed that the CCP (Chinese Communist Party) was newly formed and weak and must cooperate with the KMT to

struggle for power, Soviet leaders. themselves had the

experience of cooperating with the middle class to wait for

a chance to seize power before the October Revolution

of 1917. (2)Need to deal with the

common enemy. of warlordism and imperialism – Warlordism and

imperialism were obstacles in the way of China's unification. The two. parties therefore cooperated for national unification. putting aside their differences for the time being. (3)Sun Yat-sen's

socialistic idens One of Sun's. political doctrines was "the livelihood of the. people", which was similar to socialism. Besides, Sun hoped to absorb Life CCP, Ve. shall see that the CCP expected the opposite

B. Course - (1)In 1922, Sun Yat-sen

decided on the policy of alliance with Soviet Russia; admission of the Communists" (lien-o yung-keng +).

(2)In 1923, Sun and Joffe

(of Soviet Russia) announced the Sun-

Joffe Manifesto, The coalition started,

EEBER#2. 1927-28 Breakdown

of the First KMT-CCP Coalition

Reasons-

(a)The death of Sun Yat-

seu and the rise of rightist forces in the KMT Sun died in 1925. So far, be favoured cooperation with the CCP. Within the KMT, there appeared a struggle for power and in the end Chiang Kai-shek rose in influence. le. was rightist in political position, He decided to break with the CCP. (2)The completion of

China's unification By 1928, all China was nominally unified under the KIT's rule. Chiang Kai-shek therefore no longer felt the need of allying with the CCP against the warlords. (3)The KMT's

dependa chance to

on the wealthy middle class and landlords -As the KMT marched northward from Kwangtung, they occupied territories where many wealthy Chinese and foreign bussinessmen could be found. These people supported the KMT so as to safeguard their interests. The KMT had to break with the CCP. (4)Growing radical acti-

vities by the CCP When the coalition

first started,

CCP

the promised not to engage in revolutionary. activities. In 1926– 28, however, because of social confusion

caused by the unification process, the CCP such

R. Course

A many

the

The

(1)The First Purage of

the CCP in 1926 - Many CCP members were arrested by the KMT - (2)The Second Purge of

the CCP in 1927 - Many CCP members were killed by the KMT, 1928-1935 The KMT-CCP Struggle. In this period, the two parties confronted and then fought with each other. From 1928 to 1950, the KMT concentrated on internal development, as China was newly unified. The CCP stayed in countryside

to establish areas 1 hases of power. Starting from 1930, the KMT conducted a number of military campaigns against the CCP They were called extermination

campaigns. Reasons for the struggle were. as follows:

Ideological difference between the two parties.

-The EMT was based on capitalism, but the CCP was based on communism.

B. The NT's success in

tinification The KMT succeeded in defeating. many warlords from 1928 to 1939, Chiang Kai-shek could therefore concentrated on dealing with the CCP.

C. Chiang Kai-shek's

policy of destroying communism before

defending China.

against Japanese aggression - Japan started aggression on China since September 18, 1932. Hut Chiang Kai-shek's policy was to strengthen internal control before handling the external problem of the Japanese. From 1931 to 1935, the KMT conducted 5. extermination campaigns against the CCP. The last one forced the communists give up their base in central China. The. KMT chased, and the CCP escaped. This was

the long March, (1934

1955 36 Formation of the Second KMT-CCP. Coalition

In 1935 36, members of the CCP escaped to Shensi of Northwest China, The KMT was about to start the sixth extermination: campaign. Then an incident happened, changing the course of events. Chiang kai-shek was kidnapped by one of his generals who wanted Chiang to agree to cooperate with the CCP again. This was the Sian Incident. Chiang agreed, and, thus started the Second KMT-CCP Coalition. The reasons were follows:

A. Strong Chinese

nationalism and demand for internal unity against Japanese aggression - Many Chinese nationalists objected to the KMT's policy. They argued that the KMT and CCP should put

form a united front against

quarrels 9ide their

the Japanese. Chiang Kai-shek was kidnapped because of this.

B. The CCP's advocacy

INT

for cooperation - The CCP wanted a breathing pace, as it was. threatened by the The CCP advocated cooperation with the KMT against Japan.

C. Soviet Russia's

encouragement of KMT-CCP coalition This policy enabled Soviet Russia to defend herself against the threats of Nazi Germany and Imperial Japan.

D. The Sian Incident

This forced Chiang Kai-shek to agree to the second coalition with the CCP.

5. 1937 Outbreak of

the Second Sino- Japanese War and the KMT-CCP cooperation On July 7, 1937 the China Incident. occurred in North China. This led to the outbreak of war between China and Japan. The EMT and CCP agreed to cooperate to defend China, though in practice there was little cooperation between them.

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