§ 29. Mr. Costainasked the Chancellor of the Exchequer what progress is being made in the settlement of outstanding double taxation agreements with the Commonwealth and the United States of America; and when he expects these to be finalised.
§ Dr. GilbertProposals were made in 1972 for the amendment of the double taxation agreements then in existence with the United States and with Common-132W wealth countries. These proposals took account of the introduction of the imputation system of corporation tax in the United Kingdom. Negotiations are continuing and agreement has been reached with a number of the smaller Commonwealth countries. I cannot say when the remaining negotiations will be completed.