§ 58. Sir OWEN PHILIPPSasked the Secretary to the Treasury what rate of Income Tax and Excess Profits Duty, if any, is chargeable in respect of steamers registered in Hong Kong and what amount he estimates the British Treasury will lose at the present rate of the British Income Tax and Excess Profits Duty by reason of certain British steamers having recently transferred from the ownership of a com- 1867 pany under the laws of the United Kingdom to the ownership of a company registered under the laws of the British Colony of Hong Kong?
§ Mr. BALDWINThe place of registration of a vessel is not material to the question of liability to United Kingdom Income Tax or Excess Profits Duty. These duties are chargeable in respect of the profits of any business carried on in this country whether by British, Colonial, or foreign owners. My hon. Friend will, if course, appreciate that the Commissioners of Inland Revenue are precluded from disclosing any information relative to the assessments upon particular taxpayers.