Meeting Deficiencies: Collection at Place of Production In order to meet the deficiency in the national revenues caused through the abolition of likin, the Central Government had decided to introduce two new taxes, stated Mr. T. V. Soong, Minister of Finance, in the course of a lengthy interview granted to members of the Chinese press while in Tientsin, These two new taxes are the Consolidated Tax and the Special Consumption Mr, Soong mentioned that cigar-eftes, matches, cement, flour and cotton yarn would come under the Consolidated Tax, which would be collected at the places where they are produced and that, although as many as 19 different" commercial} commodities will come under the Special Consumption Tax, only three or four of the latter will be taxed in each province, Both the Consolidated and Consumption Taxes will form part of the revenues of the Central Government, according! ther future, commercial] to Mr. Soong, who mentioned fur-
commodities having once been, taxed will be exempt from further' taxa. tion throughout the country. Em. ployees of the bureaux for the collection of the two new taxes will be selected from the Chinese staff of the Customs Service and, should the number not be sufficient, others will be recruited by the Central Government by competitive examination, In conclusion, the Finance Minister stated that the proposed business tax would form part of the revenues of the local governments.
In an article appearing in the "Sinwanpao" it was stated the collection of the consolidate ed cigarette and flour taxes were already being enforced by the Ministry of Finance, and that the. regulations governing the collection of the consolidated yarn, match and cement taxes would come! {into force as soon as they were approved and promulgated by the Central Government.
Interviewed by members of the Chinese Press, an official of the Shanghai Consolidated Tax Bureau} stated that the introduction of the Consolidated Tax would greatly help the merchants and tend to lighten their financial burden because, after the Consolidated Tax was collected at places where goods were produced, such goods which had thus been' taxed would be exempt and free from further taxation wherever they were and whenever they were moved.—Offces would be established in various places to examine cargoes but goods would be released as soon as it was} proved that they had paid the Consolidated Tax, Therefore, the! official said, all corrupt. practices which prevailed among the likin collectors would be done away with, The rate of the Consolidated Tax would be such that it would enable native merchants to compete with foreign merchants, the official con-eluded,
Text read from the printed page and cleaned; old type leaves the occasional error.