§ 46. Sir ALFRED KNOXasked the Chancellor of the Exchequer the amount of unpaid arrears of Excess Profits Duty on the 5th April, 1922, and on the 5th April, 1928, respectively?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Arthur Michael Samuel)The approximate gross amount of Excess Profits Duty (including Muni- 1680 tions Levy) in assessment but unpaid at the 31st March, 1922, was £292,000,000, and at the 31st March, 1928, £77,500,000. The figure of £77,500,000 as the gross arrear at the 31st March last must not, however, be taken as representing the amount of Excess Profits Duty outstanding that will ultimately be collected. The amount which will ultimately be collected will fall far short of the duty in assessment, by reason of reductions and discharges due to be made.
§ 47. Sir A. KNOXasked the Chancellor of the Exchequer what sum was received as Excess Profits Duty in the year ending 5th April, 1928, on account of principal and on account of interest, respectively; and what was the cost of collection in that year?
§ Mr. SAMUELAs the answer is in tabular form, I will, with my hon. and gallant Friend's permission, circulate it in the OFFICIAL REPORT.
§ Following is the answer:
| Approximate Receipt of Excess Profits Duty (including Munitions Levy) in the year ended 31st March, 1928. | ||||
| — | Duty. | Interest. | Total. | |
| £000. | £000. | £000. | ||
| Gross Receipts | … | 5,137 | 529 | 5,666 |
| Repayments | … | 6,002 | 69 | 6,071 |
| Net Receipt | … | -865 | 460 | -405 |
§ I regret that it is not possible to isolate the cost of clearing up the arrears of this duty from the general expenditure of the Inland Revenue Department.