TAXATION REMISSIONS.
SOME CORRECTED FIGURES. By Telegraph.—Press Association. Wellington, November 29. With regard to the figures which have been quoted b.y political speakers to the alleged remissions of taxation granted to the banka, bankers assert that they are inaccurate. It is pointed out that for the Union Bank the profit quoted ie the result of the bank s whole business, most of which is outside New Zealand. The bank is not taxed in New Zealand on profits made in Australia and London. It is alleged the figures quoted for the Bank of New Zealand, the National Bank and two insurance companies are wrong for similar reasons. Bankers also state that the reduction is geing passed on to the public in the shape of lower interest for overdrafts.
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Taranaki Daily News, 30 November 1922, Page 4
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127TAXATION REMISSIONS. Taranaki Daily News, 30 November 1922, Page 4
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