HC Deb 27 November 1952 vol 508 cc594-5
17. Mr. Arbuthnot

asked the Chancellor of the Exchequer whether Her Majesty's Government will include the need for reciprocal tax relief between India and the United Kingdom among the subjects for consideration at the forthcoming Commonwealth Prime Ministers' conference.

Mr. Boyd-Carpenter

I fully understand the need for a double taxation agreement with India, but the negotiation of such an agreement involves highly technical matters affecting this country and India which could not conveniently be considered at the conference.

Mr. Remnant

Is the Financial Secretary aware of the importance of this matter to sterling companies operating in India which, owing to the unusual rules as to domicile imposed by India, have to pay on interest from their gilt-edged investments, taxes amounting to 24s. in the £?

Mr. Boyd-Carpenter

I am well aware of the importance of this matter both to the companies to which my hon. Friend refers and to the general national interest.