HC Deb 02 August 1976 vol 916 c594W

  1. (a) These countries apply reduced rates of tax to company profits below specified levels.
  2. (b) Companies in these countries are also liable to local taxes; in Germany and Luxembourg, these are deductible when computing a company's income for national tax purposes.
  3. (c) Including the 3 per cent. surcharge payable for 1975 and 1976.
  4. (d) These countries have a form of imputation system under which part of the tax on the company's profits is credited against the shareholder's tax on the distributions he receives.