§ MR. WHITLEYTo ask the Secretary of State for the Colonies if he can explain why the Transvaal Treasury Receipts for the year ending 30th June, 1903, show only '£116,316 to have been received on account of the Ten per cent. Profit Tax, while the dividends paid by 829 the gold mines for the same period appear to have exceeded £2,500,000.
(Answered by Mr. Secretary Lyitelton.) The yield of the tax is affected by the reduction of profits resulting from the mines not running at full strength, and to the amount which falls to be deducted from the profits in raspect of the amortisation allowance. I propose to include in financial Papers shortly to be laid a despatch from Lord Milner explaining this.