HC Deb 07 April 1959 vol 603 c50

I come to certain minor proposals. Coming now to my proposals on taxation, and getting my priorities right, I will deal, first, with two provisions for the protection of the Revenue. I regret to say that cunning people have devised yet another form of dividend stripping at the expense of the Revenue, through companies set up and resident in the Irish Republic which take advantage of a provision in our Double Taxation Agreement with that country. This device must be countered, and we have reached an agreement with the Government of the Republic of Ireland for an amendment of our Double Taxation Agreement that will bar such dividend stripping in the future in both countries. This agreement must be validated by a Clause in the Finance Bill.

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