§ Sir J. Mellorasked the Chancellor of the Exchequer whether, to illustrate existing anomalies, he will supply a table showing the respective liabilities from all sources to taxation of United Kingdom companies operating exclusively in a colony, where Income Tax is 5s. in the pound, assuming a pre-war profit standard of £100,000 and current profits varying from £100,000 to £1,500,000 inclusive, and showing the corresponding liabilities for companies operating exclusively in the United Kingdom?
§ Sir K. WoodI am afraid that the preparation of such a table as my hon. Friend desires would be impracticable as the aggregate tax liability would depend upon a number of varying factors with regard to the incidence of the taxation imposed in the colony and of the provisions for double taxation relief in the circumstances of particular companies.