HC Deb 04 April 1950 vol 473 cc1005-6
53. Mr. Peter Smithers

asked the Chancellor of the Exchequer whether he will waive payment of United Kingdom taxes upon the profits of British companies operating in Latin America, so long as such profits are frozen in the countries in which they are earned.

Sir S. Cripps

No, Sir, I could not adopt the hon. Members' suggestion. I should explain, however, that in cases of this nature it is the practice of the Inland Revenue authorities, where payment of the tax in question cannot be made at the due date without serious hardship, to allow payment to stand over until funds to meet it become available. If the hon. Member has a particular case in mind, I will have it examined if he will send me the facts.

Mr. Smithers

Will the right hon. and learned Gentleman bear in mind that there are outstanding hard cases, and unless they are settled fairly soon this. country may lose a permanent source of revenue? Has he seen the Press reports. to the effect that the United States Government have adopted the practice suggested in the Question, which would be much simpler.

Sir S. Cripps

The United States have rather a different system, and they may often adopt methods different from us.

Mr. Walter Fletcher

Is interest charged by the Government during the delay in paying?

Sir S. Cripps

Perhaps the hon. Gentleman will put down that question.