§ Commander BELLAIRSasked the Chancellor of the Exchequer whether the 50 per cent. increased Income Tax on extra profits applies to companies working 836W abroad in our Empire and foreign countries and registered in England; and, if so, whether the tribunal set up will be empowered to exempt such cases when the increased profits are clearly not due to the War?
§ Mr. McKENNAI would refer the hon. and gallant Member to the reply which I gave yesterday to the hon. Member for Great Yarmouth.
§ Commander BELLAIRSasked the Chancellor of the Exchequer whether he is aware that, in some companies such as a rubber company, it may take five years before a profit is made; and, if so, whether a company which has recently reached this stage will be subject to the excess war-profits tax.
§ Mr. McKENNAPerhaps the hon. and gallant Member will be willing to await the provisions of the Bill.