Advance Corporation Tax (Hansard, 25 November 1993)

§ Mr. Hardy
To ask the Chancellor of the Exchequer (1) what sums have been repaid by the Inland Revenue in the five years to March 1993 on account of sovereign immunity and by way of advance corporation tax rebates on dividend payments or on sums assumed to be dividend payments either directly or indirectly to the Government of Kuwait or to any bank managing funds on its behalf in respect of shareholdings or other investments in British companies;
(2) what sums have been repaid by the Inland Revenue in the five years to March 1993 on account of sovereign immunity and by way of advance corporation tax rebates on dividend payments to either the Government of Brunei or to any bank or financial institution managing funds on its behalf in respect of shareholdings or other investments in British companies;
(3) what sums have been repaid by the Inland Revenue in the five years to March 1993 on account of sovereign immunity and by way of advance corporation tax rebates on dividend payments to the Government of Abu Dhabi or to any bank or financial institution managing funds on its behalf in respect of shareholdings or other investments in British companies;
(4) what sums have been repaid by the Inland Revenue in the five years to March 1993 on account of sovereign immunity and by way of advance corporation tax rebates on dividend payments to the Government of Singapore or to any bank or financial institution managing funds on its behalf in respect of shareholdings or other investments in British business;
(5) what sums have been repaid by the Inland Revenue in the five years to March 1993 on account of sovereign immunity and by way of advance corporation tax rebates on dividend payments or on sums assumed to be dividend payments either directly or indirectly to the Government of Singapore.
(6) how much has been paid by the Inland Revenue in the five years to March 1993 in the current financial year in respect of advance corporation tax rebates on dividend payments to the Government of Qatar or to any financial institution or company managing funds invested in British business on its behalf.

§ Mr. Dorrell
The normal rules of Revenue confidentiality preclude the provision of information about the affairs of named individuals or entities.

§ Mr. Hardy
To ask the Chancellor of the Exchequer what has been the total sum repaid through the exercise of sovereign immunity in respect of the repayment of advance corporation tax relating to dividend payments to foreign Governments or to banks and financial institutions managing investments and shareholdings in British business on behalf of those Governments during each of the last seven years.
142W

§ Mr. Dorrell
The approximate amount of tax credits paid on dividends—excluding those paid direct by the payer of the dividends—on sovereign immunity grounds in the years requested is as follows:

£ million

1986–87 116

1987–88 147

1988–89 154

1989–90 147

1990–91 138

1991–92 164

1992–93 116

	£ million
1986–87	116
1987–88	147
1988–89	154
1989–90	147
1990–91	138
1991–92	164
1992–93	116