Decline of Sixty Per Cent. in Income Tax Collections Manila, June 6.
A drop of more than P. 2,000,000 in collections of internal revenue and a falling off of 60 per cent. in income tax collections for the year 1922 are the outstanding features of the annual report of the collec-for of internal revenue for the year 1922, transmitted recently to the department of finance.
Total internal revenue collections in 1922 amounted to P. 39,197,017.94, and the cost for making these collections amounted to P. 457,031.63, being salaries and ansportation for employees and officers.
Two sources of revenue have shown considerable decrease, says the collector's report; these are the percentage tax on merchants' sales, and the income tax. The increase fu the consumption of articles subject to the percentage tax and the further decline in the prices of commodities account for the dimi-nation of the collection of the tax on merchants' sales.
On the other hand, the marked falling off in income tax collections is explained by the fact that the tax was assessed and collected on incomes realized in 1921, the year when passing economic depression reached its peak.—Reuter.
Toxio, June 17.—The Sino-Japanese Business Association has addressed an inquiry to the Japanese Chambers of Commerce Associations throughout China to ascertain the extent of the boycott movement. The Tokio Chamber of Commerce is inquiring similarly of the domestic concerns trading with China.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.