§ 10.27 p.m.
§ The Financial Secretary to the Treasury (Sir Edward Boyle)I beg to move,
That an humble Address be presented to Her Majesty, praying that the Double Taxation Relief (Taxes on Income) (Faroe Islands) Order, 1961, be made in the form of the draft laid before this House on 25th January.The purpose of this Motion is to secure approval for the Order giving effect to the extension to the Faroe Islands of the Double Taxation Agreement between the United Kingdom and Denmark. I do not think that I need commend this Motion to the House at any length, because the Danish Agreement, including the article in 1524 it which provides for extension, has already been approved by Parliament. Indeed, the Agreement with Denmark has been working smoothly for a number of years.As in the case of all Double Taxation Agreements to which the United Kingdom is a party, formal Parliamentary approval is necessary in this case to comply with the terms of Section 347 of the Income Tax Act, 1952. I hope that the House may feel able to give its approval to this Order.
§ Question put and agreed to.
§ To be presented by Privy Councillors or Members of Her Majesty's Household.