The proposed schedule of rates, taxes, dues and fees for 1940. was submitted to the meeting of the Finance Committee held on March 18, It'Wwas agreed to recommend adoption of the Schedule and that taxation be Tevied at the following rates:
Land Tax:—At the rate of 9/10ths of one per cent. from January 1, 1940, Shanghai, Mar, 27.
Attention has been drawn to the fact that misunderstanding has arisen from the Shanghai Municipal Council's recent communique which stated that the new committee appointed to investigate the possibility of economy would not be able to make a report during the cur. rent municipal year. Ref ence was intended to the cur rent municipal year ending at the time of the forthcoming ratepayers' meeting, (April 17) and not to the calendar year 1940, It is hoped that it will be possible for the committee to submit interim reports to the Council from time to time during 1940.
Text read from the printed page and cleaned; old type leaves the occasional error.