§ Sir J. POWERasked the Chancellor of the Exchequer the gross and the net receipts from the Excess Profits Duty and the Corporation Profits Tax, respectively, during the nine months ended 31st December, 1929, and the gross arrears outstanding on that date, and also the amount of these arrears likely to be ultimately recovered?
§ Mr. P. SNOWDENThe gross receipts of Excess Profits Duty and Corporation Profits Tax in the nine months ended 31st December, 1929, were £4,540,000 and £516,000, respectively; the corresponding net receipts were £780,000 and £445,000, respectively. It is estimated that the gross amount of Excess Profits Duty in assessment but unpaid at 31st December, 1929, was about £52,000,000, and of Corporation Profits Tax £3,500,000. These figures are subject to considerable reductions and discharges yet to be made, and I am therefore unable to give any estimate of the amount of each duty that will ultimately be collected.