WAR LOANS.

Press, Volume LIV, Issue 16203, 4 May 1918, Page 8

WAR LOANS.

COMPULSORY CONTRIBUTIONS. (PRESS ASSOCIATION TELEGBAM.) WELLINGTON, May 3. T.he Hon. A 31. Myers, Acting-Min-ister of Finance, this ovening made the following statement regarding tho section of the Finance Act relating to compulsory contributions to the war loan:—

The Government considers it advisable that the public should be informed of the procedure which will bo adopted 111 regard to the enforcement of these provisions. Voluntary applications for war loan securities will continue to be received, provided that in tho case of taxpayers who have not subscribed any amount to any war loau. no applications wiil be accepted alter May 31st. After May 31st the Commissioner of Taxes will issue statutory l notices to those taxpayers who have not subscribed, and who, in his opinion, should be called upon to do so. These notices will be subject to appeal, but any amounts compulsorily obtained in pursuance of these notices wili be subject to interest at 3 per cent. only. . In the ease of persons who have subscribed to the war loans, but whose subscriptions do not aooear to be sufficient, the' Commissioner of Taxes will first communicate by letter with the subscriber before forwarding him the statutory notice in accordance with tbe Act. Such subscribers, therefore, will have an opportunity of arranging matters with the Commissioner of Taxes before the compulsory provisions of the Act are put into operation in their case>