The above figures are determined by comparing the actual amount of
proceeds collected by the Government in the 3rd and 4th years of
the Republic with the estimated amount in the Budget of the fifth
year. The total amount of loss caused by the abolition of likin
will be $58,000,000.
INCREASE OF CUSTOMS TARIFF
The amount of increase in the Customs tariff which the Government
expects to collect is as follows:--
(a) The increase in import duties $29,000,000.
(b) The increase in export duties Tls. 6,560,000.
The above figures are determined according to the Customs returns
of the 2nd, 3rd, and 4th years of the Republic. By deducting Tls.
2,200,000 of transit duty, the net increase will be Tls.
33,600,000 taels, which is equal to $48,500,000. For the sake of
prudence, allowance of five per cent, of the total amount is made
against any incidental shortage. The net revenue thus increased
would amount to $46,100,000. Against the loss of $58,000,000,
there will be a shortage of some $11,900,000. This, however, will
not be difficult to make good by new sources of revenue as the
result of a tariff revision:--
(a) Tax on goods at the time of manufacture $800,000.
(b) Tax on goods at the time of sale $8,000,000.
(c) Tax on cattle and slaughtering houses $2,000,000.
(d) Tax on foodstuffs $4,000,000.
"Under (a) and (b) are the taxes to be collected on native made
foreign imitation goods and various kinds of luxurious articles.
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