TAX ON ILLEGAL PROFITS.
JUDGE'S RULING. SOURCE OF INCOME NO EXEMPTION. (iTMTED PRESS ASSOCIATION—BV ELBCTKIO TELSGIUPH—COI'YWaHT ) (Received February 3, 7 p.m.) LONDON, February 2. That burglars, embezzlers, forgers, and, in fact, all persons engaged in illegal activities, are' subject to income tax on their income from any sources, is the gist of Mr Justice Finlay's judgment that a firm of street bookmakers is liable to the tax. "Even if a business is illegal," he said, "the profits aro taxable. It would be wrong if a man could obtain exemption from the taxation which is weighing upon the rest of the community by conducting his business in an illegal manner."
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Bibliographic details
Press, Volume LXIX, Issue 20772, 4 February 1933, Page 15
Word Count
109TAX ON ILLEGAL PROFITS. Press, Volume LXIX, Issue 20772, 4 February 1933, Page 15
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