§ 55. Colonel PENRY WILLIAMSasked the Chancellor of the Exchequer whether any companies have been taken out of the scope of the operation of the Excess Profits Duty or Munitions Levy by arrangement; and, if so, will he give a list of companies so dealt with?
§ Mr. BONAR LAWI am not aware of any case in which an assessment of duty has been foregone where legal liability exists, and I would refer the hon. and gallant Member to my previous answer to him on this subject.
§ Colonel WILLIAMSMy question was, Has any company been exempted by direct action of the Government from the payment of Excess Profits Duty?
§ Mr. BONAR LAWAnd my direct reply was that, so far as I know, no company has been exempted from any legal obligation to pay the tax
§ Colonel WILLIAMSHas any company been put outside the legal obligation to pay this debt?
§ Mr. BONAR LAWNot that I know of. As I have invited the hon. Member before, so I invite him now to give me the name of any company that has been exempted.
§ Mr. BILLINGCould the right hon. Gentleman say whether it is possible for companies to avoid paying Excess Profits Tax by offering large prizes of £50,000 and the like either by way of compensation or gift; and whether, if they do, they will be credited with that excess profit or not?
§ Mr. BONAR LAWI do not follow the hon. Member's question.