PRIVATE LOTTERIES (AMENDMENT) BILL

Order for Second Reading read.

4.30 p.m.

The Minister for Finance (Dr Goh Keng Swee): Mr Deputy Speaker, Sir, I have His Excellency the Yang di-Pertuan Negara's recommendation to proceed with this Bill.

Sir, I beg to move, "That the Bill be now read a Second time."

The object of this Bill is to give effect to the proposal to raise the rate of tax on private lotteries which I mentioned in my Budget speech.

At present, promoters of private lotteries pay a tax of 20 per cent on their gross receipts and operators of fruit machines pay 20 per cent on 137½ per cent of their net takings. For reasons which I have fully explained in my Budget statement, Government considers it just and proper that the rates of tax be increased in respect of these from 20 per cent to 30 per cent.

Sir, I beg to move.

Question put, and agreed to.

Bill accordingly read a Second time and committed to a Committee of the whole Assembly.

Assembly immediately resolved itself into a Committee on the Bill. -[Dr Goh Keng Swee].

Bill considered in Committee; reported without amendment; read a Third time and passed.