Can’t Get it Both Ways
TRIED TO SAVE ON EXCHANGE BUT GOT CAUGHT WITH TAX Per Press Association WELLINGTON, Last Night. Income tax assessed on interest paid by a company on overseas commitments postponed in anticipation of a fall in tho Exchange rate, was tho subject of an action heard by the Hon. Mr. Justice MacGregor in tho Supreme Court to-day. ... > The caso was one in which Bryant and May, Bell and Co. Ltd., match manufacturers, Wellington, appealed to the Court against assessment by the Commissioner of Taxes on a sum of £1173 16/10 interest on money paid by the company to its parent company in England. His Honour held that the Commissioners’ assessment was a correct one, dismissing the appeal ~ with £ls 15/costs and disbursements. . • 1
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Bibliographic details
Manawatu Times, Volume LIV, Issue 7211, 18 July 1933, Page 7
Word Count
127Can’t Get it Both Ways Manawatu Times, Volume LIV, Issue 7211, 18 July 1933, Page 7
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