§ MR. J. G. HUBBARDasked Mr. Chancellor of the Exchequer, Whether the Inland Revenue Commissioners are justified in calling upon residents in this Country to return for assessment to the Income Tax profits arising or accruing to their credit from property, trade, or manufactures, such profits being made abroad under the protection of and subject to the taxation of Foreign or Colonial Governments, except for the proportion of such profits as may have been received for expenditure in this Country?
§ THE CHANOELLOE OF THE EXCHEQUER (Mr. CHILDERS)Yes, Sir; there is no doubt whatever that, by law, residents in this country are required to return for assessment the full amount of their profits made abroad, and not only the amounts remitted for expenditure in this country. The hon. Member for Carlow (Mr. Macfarlane) is, I believe, about to raise this question on the 8th clause of the Customs and Inland Revenue Bill, and I shall then be able, I hope, to show how untenable the apparent contention of my right hon. Friend would be.
§ MR. J. G. HUBBARDsaid, that when the Motion was discussed he would draw the attention of the House to the grievances to which his Question alluded.
§ MR. MACFARLANEasked at what hour the right hon. Gentleman would get Progress reported on the Navy Estimates, so that the Customs and Inland Revenue Bill might be discussed?
SIR E. ASSHETON CROSSasked whether the right hon. Gentleman still persisted with Part 3 of that Bill?
§ THE CHANCELLOE OF THE EXCHEQUER (Mr. CHILDERS)said, the conduct of Business was not in his hands. With regard to the Question of the right hon. Baronet, he would prefer not to make any statement until the Bill was before the House.