TAXATION LEVIES

New Zealand Herald, Volume LXXIV, Issue 22850, 4 October 1937, Page 7

TAXATION LEVIES

OTHER COUNTRIES' BURDEN

COMPARISON OF RATES To make exact calculations between taxation imposed in Great Britain and in foreign countries is always somewhat difficult, states the Times, London. In reply to a question Sir John Simon gave tho House of Commons the following particulars:— ESTIMATED TAXATION PER HEAD _ , . Sterling ty .Country Currency £ s d united Kingdom 1037-8 £l7 lis 5d 17 14 5 France 1037 Francs 1007 0 2 0 Germany 1030-7 Bms. 171 Italy . 1U37-8 Lire 432 412 0 United States . 1037-8 Dollars 55 11 2 0 The net receipts of sinking fund revenues of France have been taken at the total for 1036. Iho external value of the German mark being maintained by exchange control and tho quoted foreign exchange rate for tho mark being largely nominal, it is not practicable to state a fair sterling equivalent.

Italy includes net receipts from lottery as a tax.

The United States taxation includes Federal revenues onlv.

Recently the Ago, Melbourne, showed that Federal taxation for 1936-37 amounted to £62,775.645, or rather more by £2,600,000 than tho Australian wool cheque. Tho position was set out as follows:

1036-37 1037-38 £' f £ Federal taxation 02,775,645 *01,350,000 federal revenue . 82,807,077 •85,100,00k Aust. wool cheque 140,100,537 +60,175,407 'Estimated. tCheques for 1035-36 an'd 11)30-37 in that order.

Estimated Federal collections, 1937-38, are as follows:—Customs, £45,500,000; sales tax, £7,700,000; income tax, £9,00,000; estates duty, £1,500,000; entertainments, £1,650,000.

11l addition to the abovo taxes there are States taxes. FOREIGN EXCHANGES DECLINE OF THE FRANC (Received October 3, 5.5 p.m.) British Wireless HUG BY, Oct. 2 J. lie following rates on foreign exj changes were current yesterday, compared with the cabled quotations on September and par:— Oct. 1 Sept. 30 Par Montreal, dol. .. 4.05% 4.05% 4.506 £ew }ork. dol. 4.1(5 4.04 ,3 / la 4.8(5 Paris, fr. .. i.u'/. in',, 105.00 Brussels, belga.. 29.40 29.40% 35 00 Geneva, fr. . . '_>l.sti% 21.55% 25.22 Amsterdam, gr. 8.95% 8.95% 10.10 Milan, lire .. ». t »/„ »4% 0 0. 00 Berlin r .ni .. iy.a3V4 32.33'/, 20.43 Stockholm, kr. .. 19.39% 1 0.311% 18.lot) Copenhagen, k,r. 22.40 22.40 18.151) Oslo, kr. .. ao.!)0 ffc.oo 18.150 Vienna, sch. .. 20% 2(i% 34.585 Prague, kr. Ml l /, 111% km 03 Helsingfors, mark 220% 220% 103 >3 Madrid, pes. .. 55+ 55t 05 Lisbon, escu. .. lio% B no'/, TkT" Athens, dr. 517'/, 547% 375.00 Bucharest, lei... 072072'/, 813.0 HlO de Janeiro, m. 4VSd* Montevideo, dol. 30% „d* 30%„d* 51d Bombay, rupee.. Is'/,d iRVd igj • Shanghai, d 01... 14% d 14% d Hongkong, dol. isd lsd \okohania, yen lid lid 24.58 d Ba avia, gr . . 8.03% 8.03 32.10 Belgrade, din... 210 '>lo °7O 31 Warsaw, zloty. . 'JO.IS 20.18 43.38 'Sellers. (Received October 3, 5.5 p.m.) LONDON, Oct. 2 On the foreign exchange market today the following quotations ruled:— New York, 4.90%, dollars; Paris, 1515 a fiancs; Butavia, 8.9-1 guilders. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of iS'ew South Wales) quoted the following dollar rates 011 Saturday, 011 a 2Scw Zealand currency basis, subject to alteration without notice:— United States Canada '• 1 • , • • 3.07 3.07 .On demand 3.07% 3.07 V. Buying:

On demand 4.01 V,, 4.01 u /i« I olid wing r.re t lie latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice:— To £1 N.Z. T.T. On Demand Currency Selling Buying Selling U.S.A., dol. 3.0690 4.0144 3.9730 Canada, dol 3.9709 4.0154 3.9740 Austria, sell. 20.78 Belgium, belga 23.516 23.901 23>>27 Czccho'vakia cr. 112.(16 Denmark, kr. 17.893 18.203 17.899 I* ranee, fr. 115.12 Germany, r.ni 9.839 Holland fl. 7.146 7.336 7.150 Italy, lire 75.41 Java, fl. 7.121 7.311 7.125 Norway, kr. 15.891 16.241 15.897 Sweden, kr. . . 15.189 1 5.844 1 5.195 Switzerland, fr. 17.226 17.001 17.231 Noumea, fr. .. 113.87 Papeete, fr. .. 113.02 N.Z. pence (o Hongkong, dol. 18 13-16 18 13-32 18 13-ln India, rupee .. 22 21-32 22 11-32 22 21-32 C'eylon, rupee . 22 21-32 22 11-32 22 21-32 Japan, yen .. 17% Shanghai, dol. 18 31-04

Singapore dol. 35 13-61 31% 35 13-64 Chefoo dol. .. 18 45-64 Manila, peso . 30 3-16 20 19-32 30 3-16

The cost in New Zealand currency of the pound sterling, and of the principal overseas units, 011 the latest quotations, is as follows: — Present Price Par 8 d r d London, poond 24 10.05 20 0.00 Australia, pound 10 10.81 20 0.00 Fiji, pound . 22 5.00 20 0.00 New York, dollar 5 0.55 4 1.31 Montreal, dollar 5 0.20 4 1.31 Paris, franc . 0 2.00 0 2.28 Berlin, reichsmark 2 0.20 0 11.71 Copenhagen, krone 1 1 .33 1 122 Yokohama, yen . 1 5.11 2 0.58 CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling at the date of departure of vessels named are shown in the following table: Limerick, America, dollars .. 4.05 Limerick, Canada dollars .. *4.1)7 Anglo-Canadian, Canada, dollars 4.05 Westmoreland, America, dollars . . 4.00 Westmoreland, Canada, dollars .. 4.05

NEW COMPANIES

SOUTHERN REGISTRATIONS The registration of the following 1 new Southern companies appears in the Mercantile Gazette: — PUBLIC Dodson (J. R.) and Son, Limited, Nelson. Capital. £2O 500, in shares of £1 each. Subscribers: Nelson—H. R. Duncan, 20,400 and R. S. Duncan, 1. Ohjects: To acquirp and take over as going concern# business of brewers and otherwise of J. R. Dodson and Son at Nelson. Bowen Hospital, Limited. Wellington. Cariital, £.1500, in shares of PI each. Subscribers: Wellington—7s. Tl. M. Luke 100. S. r>. Rhind 50, T. D. M. Stout 100, W. H. B. Bull 50, M Kronfield 50, .7, A. Doctor 100, P. P. Lvncb 50. E. C. Marchant 50, L. Levy 50. R. Stout 100, D M. Wi'son 50. H. O. Rix (Lower Hutt) 25, I. B Ewart 100, T. P. Corkill 100, H. K Corkill 20. T. N. Ushei 100, F>. G. Anderson ion Objects: To purchase, lease or otherwise acquire any land or buildings, in Wellington and elsewhere, and to furnish, equipnnd maintain same for use as a private hospital and incidental. PRIVATE

Anderson (P. B.), Limited, Wanganni. Capital, £2OOO, in shares of £1 each. Subscribers: Wanganui—P. B. Anderson, 1334; M. B Anderson. 000. Objects: Indent and general agents and incidental. Heirloom Studios. Limited, Wellington. Capital, £2OOO. in shares of £1 each. Subscribers: Tnrramnrra. Sydney—A. Oott 000, ,T. T. Rhoads 000. Wellington—H. R. Bnrch 800. Objects: Commercial artists, portrait painters, miniature artists and inciental. Ooole Buildings. Limited, Wellington. Capital. £2OOO. in shares of £1 each. Subscribers: Wellington—S. Wood and Son, Limited, 1007; A. C. Wood, A. Thomson, L. Wood, 1 share each. Objects: To acquire freehold and/or leasehold land of any tenure in Wellington and elsowherc to erect buildings. etc.

Carson (,T. H.i and Company, Limited, Palm erst on North. Capital, £2OOO. in sharps of £1 each. Subscribers: Palinerston North —J. H. Carson 1000, G I. M. Bell 1000. Objects: Cordial and aerated water manufacture™.