§ 60. Major KELLEYasked the Chancellor of the Exchequer the actual cost of the staff and the cost of collecting the Corporation Profits Tax; and what will be the estimated sum collected?
§ Mr. BALDWINI regret that it is not possible to isolate the cost of collecting the Corporation Profits Tax from that of collecting the other duties of the Inland Revenue Department. The estimated yield of the duty for 1923–24 is £20,000,000.
61. Mr. DIXONasked the Chancellor of the Exchequer whether the reduced Corporation Profits Tax of 6d. in the £ will apply to profits earned during the whole accounting period of 12 months ending after the 30th June, 1923, or only to profits earned after that date?
§ Mr. BALDWINIt is proposed that the reduction shall take effect only in respect of profits arising after the 30th June next.