§ 25. Mr Adleyasked the Chancellor of the Exchequer if it is the policy of Her Majesty's Government to use the 421W value added tax system, wherever possible, to encourage visible and invisible export earnings; and if he will make a statement.
§ Mr. Peter ReesThe value added tax system provides for the zero rating of exports of goods and of certain international services. Zero rating does not extend to those "invisible exports", which involve the provision of services wholly within the United Kingdom.