Budget Speech
Budget Highlights
Estimates
Webcasting
Press Releases and Speeches
Related Documents
Previous Budgets
New Taxes
Boundary Facilities Improvement Tax
94.    Last year I proposed to introduce a Boundary Facilities Improvement Tax to help finance the improvement of boundary facilities. Boundary facilities improvement works now being carried out or planned by the SAR will cost over $14 billion. We have looked into the details of implementing the Boundary Facilities Improvement Tax and have recently briefed this Council. The bill will be introduced into this Council in the second quarter of this year. This tax will generate additional revenue of over $1 billion in a full year.
Football Betting Duty
95.    As announced earlier, the Government intends to regulate football betting and introduce a football betting duty. The Government has reached an agreement with the Hong Kong Jockey Club on a betting duty, at a rate of 50% of gross profits. The annual revenue so generated for the Government is estimated to be $1.5 billion. The bill will be introduced into this Council shortly.

Page Up

Page Down

Back to Contents


2003 | Important notices