Bills Committee on
Inland Revenue (Amendment) Bill 2000

Ninth Meeting on
Thursday, 29 April 2004, at 8:30 am
in Conference Room B of the Legislative Council Building

Agenda



I.Confirmation of minutes of meetings
(8:30 am - 8:35 am)

LC Paper No.

Minutes of meeting on 24 February 2004

CB(1)1295/03-04
(issued on 16 March 2004)

Minutes of meeting on 2 March 2004

CB(1)1296/03-04
(issued on 16 March 2004)

II.Meeting with the Administration
(8:35 am - 10:25 am)

Matters arising from previous meetings

LC Paper No.

Administration's paper on "Draft Committee Stage amendments (CSAs) for savings provisions and self-education expenses deduction"

CB(1)1654/03-04 (01)
(English version issuedon 28 April 2004,Chinese version to follow)

Administration's letter dated 28 April 2004 on "Follow-up on issues raised at the meeting on 2 March 2004"

CB(1)1654/03-04 (02)
(English version issued on 28 April 2004, Chinese version to follow)

Administration's response to comments relating to exemption from 'tax symmetry' rule for internal borrowings by associated corporations

CB(1)1654/03-04 (03)
(English version issuedon 28 April 2004,Chinese version to follow)

List of issues requiring follow-up actions by the Administration (Position as at 26 April 2004)

CB(1)1654/03-04 (04)
(issued on 28 April 2004)

Written submissions received since last meeting and Administration's response

LC Paper No.

Capital Markets Tax Committee of Asia (Hong Kong Chapter)

CB(1)1438/03-04 (01)
(issued on 2 April 2004)

Hong Kong General Chamber of Commerce

CB(1)1438/03-04 (02)
(issued on 2 April 2004)

The Taxation Institute of Hong Kong

CB(1)1438/03-04 (03)
(issued on 2 April 2004)

Joint Liaison Committee on Taxation

CB(1)1525/03-04 (01)
(issued on 15 April 2004)

The Real Estate Developers Association of Hong Kong

CB(1)1525/03-04 (02)
(issued on 15 April 2004)

Summary of views and the Administration's response on the impacts of proposed section 16(2C) and the proposed exemption of "market-makers" under proposed sections 16(2G) and 16(2H) (position as at 26 April 2004)

CB(1)1654/03-04 (05)
(English version issued on 28 April 2004, Chinese version to follow)

Clause-by-clause examination of the Bill

Revised proposed CSAs provided by the Administration on 7 November 2003

CB(1)303/03-04 (01)
(issued on 11 November 2003)

Marked-up copy of revised proposed CSAs provided by the Administration on 7 November 2003

CB(1)303/03-04 (02)
(issued on 12 November 2003)

Administration's letter dated 1 March 2004 on the draft CSAs on exemption of market-making activities from the operation of proposed section 16(2C)

CB(1)1182/03-04 (01)
(English version only)(issued on 3 March 2004)

Administration's paper on "Draft CSAs for savings provisions and self-education expenses deduction"

CB(1)1654/03-04 (01)
(English version issued on 28 April 2004, Chinese version to follow)

Correspondence between Assistant Legal Adviser 1 (ALA1) and the Administration

ALA1's letter Administration's reply

Letter dated 13 November 2003 from ALA1 to the Administration on the technical aspects of the proposed Committee Stage amendments (CSAs)

CB(1)500/03-04 (01)
(issued on 5 December 2003)

CB(1)500/03-04 (02)
(English and Chinese versions issued on 5 December 2003 and 3 February 2004 respectively)

Administration's papers issued for previous meetings

LC Paper No.

Administration's paper on response to concerns raised at the meeting on 13 November 2003

CB(1)531/03-04 (02)
(English and Chinese versions issued on 5 December 2003 and 3 February 2004 respectively)

Administration's paper on response to concerns raised at the meeting on 9 December 2003

CB(1)921/03-04 (01)
(issued on 3 February 2004)

Administration's paper on follow-up actions arising from the discussion at the meeting on 5 February 2004

CB(1)1064/03-04 (01)
(English and Chinese versions issued on 20 and 23 February 2004 respectively)

List of statutory bodies established by legislation to register and recognise professional qualifications and status or grant permits or licences for practicing in a profession, trade or occupation(referred to in LC Paper No. CB(1)1064/03-04 (01))

CB(1)1104/03-04 (01)
(issued on 24 February 2004)

Administration's paper on "Tax Treatment of Interest Income and Payments: A Comparison with Overseas Jurisdictions"

CB(1)1158/03-04 (01)
(English and Chinese versions issued on 1 and 3 March 2004 respectively)

III.Any other business
(10:25 am - 10:30 am)

(A list of other relevant papers and submissions previously issued is in the Appendix to agenda.)



Council Business Division 1
Legislative Council Secretariat
28 April 2004

Appendix to Agenda

List of other relevant papers issued previously



Papers Paper No./Ref.

Legislative Council Brief

File Ref: FIN CR 1/2306/00
(issued by the Finance Bureau on 29 September 2000)

Paper provided by the Administration on "Results of the Consultations and Effects of the Proposed CSAs"

CB(1)7/03-04 (01)
(issued on 2 October 2003)

Bill gazetted on 5 October 2000

LC Paper No. CB(3)29/00-01
(issued on 4 October 2000)

Legal Service Division (LSD) Report

LC Paper No. LS8/00-01
(issued on 16 October 2000)

Correspondence between the LSD and the Administration

LC Paper No. CB(1)129/00-01 (03)
(issued on 3 November 2000)

Information paper provided by the Administration - Examples of the kinds of avoidance schemes to be addressed with the proposed amendments to section 16(2) of the Inland Revenue Ordinance (Cap. 112)

LC Paper No. CB(1)185/00-01 (01)
(issued on 17 November 2000)

The Administration's response to the concerns raised by the Bills Committee at the 6 and 20 November 2000 meetings

LC Paper No. CB(1)248/00-01 (07)
(English and Chinese versions issued on 1 and 6 December 2000 respectively)

Extracts from legislation or tax guides of Singapore, Malaysia, Australia, New Zealand and the United Kingdom relevant to proposed section 15(1)(ba) (Clause 5 of the Bill)

LC Paper No. CB(1)947/03-04 (02)
(English version only)(issued on 9 February 2004)

The case of Commissioner of Inland Revenue and Emerson Radio Corp (1999)2 Hong Kong Court of Final Appeal Report

LC Paper No. CB(1)947/03-04 (03)
(English version only) (issued on 9 February 2004)

Submissions LC Paper No./Ref.

Summary of deputations' concerns (Covering deputations who have agreed to release their submissions to the public) (position as at 29 January 2001)

CB(1)303/03-04 (03)
(issued on 11 November 2003)

Summary of deputations' concerns(Covering deputatons who have advised that their submissions should not be released to the public) (position as at 29 January 2001)

CB(1)303/03-04 (04)
(issued on 11 November 2003)

Capital Markets Tax Committee of Asia (Hong Kong Chapter)

CB(1)500/03-04 (03)
(English version only)(issued on 5 December 2003)

Joint Liaison Committee on Taxation

CB(1)500/03-04 (04)
(English version only)(issued on 5 December 2003)

The Association of Chartered Certified Accountants Hong Kong

CB(1)500/03-04 (05)
(English version only)(issued on 5 December 2003)

The Chinese General Chamber of Commerce

CB(1)500/03-04 (06)
(English version only)(issued on 5 December 2003)

The Hong Kong Association of Banks

CB(1)500/03-04 (07)
(English version only)(issued on 5 December 2003)

The Real Estate Developers Association of Hong Kong (Submission dated 1 December 2003)

CB(1)500/03-04 (08)
(English version only)(issued on 5 December 2003)

The Real Estate Developers Association of Hong Kong (Submission dated 23 December 2003)

CB(1)921/03-04 (03)
(English version only)(issued on 3 February 2004)

The Taxation Institute of Hong Kong(Submission dated 1 December 2003)

CB(1)500/03-04 (09)
(English version only)(issued on 5 December 2003)

The Taxation Institute of Hong Kong(Submission dated 20 December 2003)

CB(1)921/03-04 (04)
(English version only)(issued on 3 February 2004)

Hong Kong Society of Accountants(Submission dated 8 December 2004)

CB(1)531/03-04 (01)
(English version only)(issued on 8 December 2003)

Hong Kong Society of Accountants(Submission dated 4 February 2004)

CB(1)947/03-04 (01)
(English version only)(issued on 9 February 2004)

Hong Kong Bar Association

CB(1)921/03-04 (05)
(English version only)(issued on 3 February 2004)

Summary of views submitted to the Bills Committee and the Administration's response upon re-activation of the Bill (position as at 23 February 2004)

CB(1)1074/03-04 (02)
(issued on 23 February 2004)



Council Business Division 1
Legislative Council Secretariat
28 April 2004