DOUBLE INCOME TAX.

Feilding Star, Volume II, Issue 320, 18 July 1907, Page 2

DOUBLE INCOME TAX.

[B\ ELBOTBIC IBLBORAfH — COPYRIGHT, j [PB& PBBBS ASSOCIATION.] Received July 18, 7.58 a.m. London, July 17. In the House of Commons, in connection with the Finance Bill, Mr Asquith refused to accept Mr J. F. Rawlinson's clause exempting income which already paid income tax in the colonies from assessment in Great Britain. Mr Asquith said that he went very thoroughly into the matter with Messrs Deakin and Jameson at the Imperial Conference and he flattered himself he had succeeded in persuading them that it was quite impossible for the Imperial Government to make any change in the direction desired. He was unable to agree that any grievance existed in legard to individuals- If any man resided here and enjoyed the protection of our laws it was only fair he should contribute to the income-tax on his whole income, wheresoever it arose When a company was substantially controlled and directed in a colony or foreign country, the in-come-tax was only payable on that part of the profits remitted Home. Mr Leverton Harris, member for Tower Hamlet, said he hoped the next Budget would provide that colonial and foreign companies, which did their business in England, thereby competing with English companies, should pay income-tax.