HL Deb 31 January 1940 vol 115 c453

Clause 1, page 1, line 12, leave out from ("means,") to end of line 15, and insert ("any tax on income, so far as that tax is payable by companies, and is a").


My Lords, the sole purpose of the Amendments is so to define "Corporation Tax" as to enable an Excess Profits Duty to be imposed under the Bill should that be found necessary. As your Lordships are aware, it has been found necessary in this country quite recently to introduce an Excess Profits Duty. I understand that the Government of India have already announced their intention. I beg to move, therefore, that the Commons Amendments be agreed to.

Moved, That this House doth agree with the Commons in the said Amendment.—(The Marquess of Zetland.)

On Question, Motion agreed to.