Mr. A. T. DAVIESasked the Chancellor of the Exchequer what amount, approximately, it is expected will accrue to the Treasury during the present financial year under the new tax on co-operative societies; and what, approximately, is the estimated cost of collecting that tax?
Mr. CHAMBERLAINThe amount of Corporation Profits Tax which will be payable by co-operative societies under the present Budget proposals is estimated at £170,000 in a full year. The cost of collecting this portion of the tax cannot be separated from the cost of general collection and administration