§ Mr. Mandelson
To ask the Chancellor of the Exchequer (1) what are his Department's estimates for the level of cash repayments by the Inland Revenue to foreign investors on the basis of tax credits on dividends for 1993 and 1994;
(2) how much cash was paid out by the Inland Revenue to foreign investors on the basis of dividend tax credits for each year since 1985;
(3) if he will list by country the cash repayments made by the Inland Revenue to foreign investors on the basis of tax credits on dividends, for each year since 1985.
§ Mr. Dorrell
[holding answer 3 November 1993]: Estimates of payments of tax credits to foreign residents under double taxation agreements are given in the table. They exclude, for example, payments to sovereign immune bodies which are not separately identified for repayment of other taxes. The table only identifies countries where payments of tax credits in 1992–93 were greater than £100,000. Forecasts of the levels of payments in future years are not available.