HC Deb 30 April 1968 vol 763 c169W
Mr. Hooley

asked the Secretary of State for Commonwealth Affairs what is the present level of Corporation Tax in the Falkland Islands.

Mr. Whitlock

There is a company tax of 5s. 9d. in the £ with an additional profits tax of 2s. in the £.

General Commonwealth Preferential
TOBACCO
Cigars … … … … 20s. per lb. 19s. 3d. per lb.
Cigarettes … … … … 10s. per lb. 9s. 6d. per lb.
Manufactured tobacco … … … … 6s. per lb. 5s. 7d. per lb.
WINES … … … … 6s. 6d. per gallon 4s. 6d. per gallon
SPIRITS … … … … 126s. per gallon

Mr. Hooley

asked the Secretary of State for Commonwealth Affairs what are the rates of Income Tax now applicable in the Falkland Islands; and how much Income Tax a married man with two children of school age will pay on an income of £1,000 per annum in 1968–69.

Mr. Whitlock

The following are the rates of tax applicable in the Falkland Islands.

£ s. d.
First 150 … … … Nil
Next 100 … … … 1 0
200 … … … 2 0
250 … … … 2 6
250 … … … 3 0
1,050 … … … 3 6
4,000 … … … 4 6
Over 6,000 … … … 5 9

A married man with two children of school age would pay £26 on an income of £1,000 for the 1967 to 1968 assessment year. The tax year starts on 1st July and certain amendments in tax legislation are under consideration for introduction in the 1968–69 year.