ENG-1954 — Page 60

HONG KONG ANNUAL REPORT, 1954

Estate Duty

Estate Duty is levied on conventional lines at rates varying between 2% in the case of estates valued between $5,000 and $10,000 and 52% in the case of estates valued at over $30,000,000. The total revenue received from this duty during 1953/54 amounted to $4,182,012.35.

Import and Excise Duties

There is no general tariff and for most goods Hong Kong remains a free port, so far as duties levied upon goods for protection or revenue purposes are concerned. There are, however, five groups of commodities, either imported into or manufactured in the Colony for local consumption, which are treated as sources of revenue and upon which duties are levied under the authority of the Dutiable Commodities Ordinance. These are liquor, tobacco, hydrocarbon oils, toilet preparations and proprietary medicines, and table waters.

A preferential rate of duty for liquor of Empire origin is levied at approximately 80% of the rate for non-Empire produce. Locally-produced beer is allowed a further preferential margin over Empire beer. Rates of duty on different types of liquor range from $1.15 per Imperial gallon on locally-brewed beer to $55 per Imperial gallon for liqueurs and brandy not of Empire origin.

The scale of duties on imported tobacco ranges from $3 per lb. on Chinese prepared tobacco to $7 per lb. on cigars of non-Empire origin. Preferential rates are granted to tobacco of Empire origin and manu- facture.

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