PRESS RELEASE

FS speaks on public consultation on tax reform

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Following is the transcript of remarks (English portion) by the Financial Secretary, Mr Henry Tang, after attending a radio programme this morning (July 19):

Reporter: The Goods and Services Tax is a very contentious issue. Do you think that it is very difficult for the government to get the amount of support that will be needed to put this reform through?

Financial Secretary: Of course I know this is a very controversial issue. But it is also an important issue that the community should understand, learn about it and to have a chance to express their views and engage in public discussion. Being a responsible government with foresight, I think it would be irresponsible if we were not to launch this consultation when we have a window to launch a public discussion. I think it is important that we have this discussion. It is also important that the public can reflect on what is a fair taxation system and what is their fair share of tax burden.

(Please also refer to the Chinese portion of the transcript.)

Ends/Wednesday, July 19, 2006
Issued at HKT 13:29

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