§ 70. Mr. Onslowasked the Minister of Overseas Development why, in cases where an overseas colonial service pension continues to be paid in the United Kingdom at pre-devaluation rates even though the Government paying the pension has not devalued its own currency, overseas tax due on the pension is calculated at post-devaluation rates of exchange.
§ Mr. OramOverseas income tax is levied in local currency under the taxation laws of the overseas country concerned and the amounts to be remitted by non-residents, including pensioners, fall to be calculated at the rates of exchange operative at the time of payment.