HC Deb 03 July 1917 vol 95 cc1021-3

(1) The provisions of Section four of the Munitions of War Act, 1915, with respect to munitions Exchequer payments shall not apply to any profits arising after the thirty-first day of December, nineteen hundred and sixteen or apportioned under this Act to the period after that date.

(2) Munitions Exchequer payments shall, after the passing of this Act, be assessed and collected, or if already assessed but not collected, collected, by the Commissioners and shall be computed by them in accordance with the provisions of that Act and the rules made there under, and the Commissioners shall for those purposes have all the powers of the Minister of Munitions, including the power of making rules.

For the purposes of such assessment and collection, the provisions for the time being in force with respect to the assessment and collection of Excess Profits Duty (including provisions as to returns and penalties, but excluding provisions imposing any charge of duty or as to the computation of duty) shall apply, and rules may be made by the Commissioners accordingly.

Any rules made by the Commissioners may specify matters which may be referred to the Minister, or to a referee or board of referees appointed by him, and prescribe the manner in which such cases are to be referred.

(3) For the purposes of Sub-section (3) of Section five of the said Act, any establishments in which the same person has a controlling or. preponderating interest may, if the Commissioners so determine, be treated as belonging to the same owner.

(4) Sub-sections (2) and (3) of Section forty-nine of the Finance Act, 1916 (which relate to the recovery of payments in respect of increased directors' fees), shall apply for the purposes of munitions Exchequer payments as they apply for the purposes of Excess Profits Duty, with the necessary modifications.

The following Amendment stood on the Paper in the name of Mr. HENDERSON:

At the end of Sub-section (1), to add the words "after which date all excess profits, whether of controlled or uncontrolled establishments, shall be subject to Excess Profits Duty only."

The CHAIRMAN

I think the Amendment standing in the name of the hon. Member for West Aberdeenshire is dealt with by the following Government Amendment in a better place and in a better form.

Mr. BONAR LAW

I beg to move, in Sub-section (2), after the word "payments" ["Munitions Exchequer payments"], to insert the words "arising on or before the thirty-first day of December, one thousand nineteen hundred and sixteen, or apportioned under this Act to the period down to and including that date." This Amendment is for the object which my hon. Friend has in view.

Amendment agreed to.

Mr. HENDERSON

The object of my Amendment was to have it clearly stated that the 31st December, 1916, finished the Munitions Levy, and that after 31st December we should have only one tax—namely, the Excess Profits Tax, for all companies, controlled or uncontrolled.

The CHAIRMAN

Perhaps the hon. Member will raise the matter on the Report stage. We have now passed the Chancellor's Amendment.

Mr. BONAR LAW

I beg to move, in Sub-section (2), after the word "accordingly" ["and rules may be made by the Commissioners accordingly"], to insert the words "and the provisions of Section forty-eight of the Finance Act, 1916, relating to the adjustment of Excess Profits Duty and Munitions Exchequer payment, shall 'apply subject to such modifications as may be necessary in consequence of the transfer of powers effected by this Sub-section."

Mr. HENDERSON

I think that meets the point.

Amendment agreed to.

Clause, as amended, ordered to stand part of the Bill.