RETALIATORY MEASURE
50 PER CENT. INCOME TAX. TAX ON FOREIGN FIRMS’ BRANCHES By Telegraph—Press Assn.—Copyright Rec. 6.30 p.m. Washington, Jan. 27. The Ways and Means Committee of the House of Representatives has recommended authorising the Secretary of the Treasury to raise by a maximum of 50 per cent, the levies on incomes of foreign corporations with branches in the United States, whose Governments discriminate in taxing United States subjects. Mr. C. Vinson said the impost was intended principally to deter France. The committee also recommended cutting by half the 100 per cent, credit American concerns have heretofore been allowed against income tax payments on their home account for taxes paid foreign Governments.
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Bibliographic details
Taranaki Daily News, 29 January 1934, Page 7
Word Count
112RETALIATORY MEASURE Taranaki Daily News, 29 January 1934, Page 7
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