TAXATION OF BANKS.
INACCURATE STATEMENTS. (Per Press Association.) WELLINGTON. November 29. With regard to the figures which have been quoted by political speakers as t.o alleged remissions of taxation granted to banks, bankers assert that they are inaccurate. It is pointed out that for the Union Lank, the profit quoted is the result of the bank’s whole business, most of which is outside New Zealand. The bank is not taxed in j New Zealand on the profits made in j Australia, and London. It is alleged I that the figures quoted for the Bank o' New Zealand, the National Bank, and two insurance companies are wrong for similar reasons. Bankers also state that the reduction is being passed on to the public in the shape of lower interest for overdrafts.
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Bibliographic details
Star (Christchurch), Issue 16902, 29 November 1922, Page 6
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130TAXATION OF BANKS. Star (Christchurch), Issue 16902, 29 November 1922, Page 6
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