Nanking, July 24.
Provisional regulations "governing fis enforcement having been drafted by the Central Direct Tax Organizing Bureau of the Ministry of Finance, the new income tax will be put into effect on September 1, as originally Intended.
Commenting on the petitions from various Chambers of Commerce for 42 postponement of the collection of the tax until business conditions pick up, Mr, Kao Ping-fang, director of the Bureau, stated that there must have been a slight misunder~ Handing on the part of the petitionfers. Taking cognizance of the prevailing business depression, the law provides that the tax will be directly Tevied only on corporations, firms, bhangs, factories, and personal profit-seeking enterprises capitalized at upwards of $2000, whose nett profit annually exceeds 5 per cent, Mr. Kao reiterated that the purpose of the new direct tax is "not much to swell the national coffers as to better the taxation system and to equalize the burdens of tax-Payers in preparation financially for emergency periods—Central News.
Text read from the printed page and cleaned; old type leaves the occasional error.