HC Deb 08 February 1968 vol 758 cc801-2

10.47 p.m.

The Financial Secretary to the Treasury (Mr. Harold Lever)

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 1968 be made in the form of the draft laid before this House on 17th January, 1968. Perhaps it would be convenient if we also dealt with the remaining Orders. Hon. and right hon. Gentlemen can raise any questions they may feel inclined to ask.

10.48 p.m.

Mr. Patrick Jenkin (Wanstead and Woodford)

I have only two points. First, I congratulate the Inland Revenue on its recent production of an up to date version of "Income Taxes Outside the United Kingdom". For those who have to study these double taxation agreements, of which there are about eight, they are absolutely essential pieces of literature and are splendidly produced. I hope that that will be conveyed to those responsible.

One of the desiderata required by the authors of the Bland Report in the chapter on overseas investments was negotiations on further double taxation agreements with the minimum possible rate of withholding tax. That the Financial Secretary can bring along five at a go is an earnest of the Government's intention to comply with some of the recommendations of that Report.

10.51 p.m.

Mr. Harold Lever

In pressing ahead with these double taxation agreements, we believe that we are convincing hon. Members opposite and people outside that we attach the highest importance to invisible exports, investment income and invisible receipts in other respects from trading with all these countries, all of which are assisted by these double taxation agreements.

I am glad that the hon. Member welcomed this addition to our collection of such agreements and I hope to offer him further material for study and discussion in the not too distant future.

Question put and agreed to.

Resolved, That an humble Address be presented to Her Majesty, praying that the Double Taxation Relief (Taxes on Income) (Faroe Islands) Order 1968 be made in the form of the draft laid before this House on 17th January, 1968.—[Mr. Harold Lever.]

Resolved, That an humble Address be presented to Her Majesty, praying that the Double Taxation Relief (Taxes on Income) (Brunei) Order 1968 be made in the form of the draft laid before this House on 17th January, 1968.—[Mr. Harold Lever.]

Resolved, That an humble Address be presented to Her Majesty, praying that the Double Taxation Relief (Taxes on Income) (Fiji) Order 1968 be made in the form of the draft laid before this House on 17th January, 1968.—[Mr. Harold Lever.]

Resolved, That an humble Address be presented to Her Majesty, praying that the Double Taxation Relief (Taxes on Income) (Gilbert and Ellice Islands Colony) Order 1968 be made in the form of the draft laid before this House on 17th January 1968.—[Mr. Harold Lever.]

To be presented by Privy Councillors or Members of Her Majesty's Household.