PURCHASE TAX
OPERATION IN BRITAIN £110,000,000 A YEAR LIKELY (United Press Assn.—Elec. Tel. Copyright) LONDON, Oct. 21 There was more activity than for some time in the shops on Saturday, in view of the fact that the new “purchase tax” comes into operation to-day. The Chancellor of the Exchequer expects £110.000,000 in a full year’s working of the tax. which imposes a charge of one-third on luxury goods and one-sixth on other more essential commodities, and exempts certain classes altogether. There is complete exemption, among other things, for young children’s clothing. The tax of one-sixth goes on drugs and medicines, and the full tax on a variety of articles, such as cameras, hats, gloves, torches, domestic linen and toilet requisites.
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Bibliographic details
Waikato Times, Volume 127, Issue 21250, 22 October 1940, Page 5
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120PURCHASE TAX Waikato Times, Volume 127, Issue 21250, 22 October 1940, Page 5
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