Charities

HC Deb 17 December 1998 vol 322 cc755-6W

Mr. Gibb

To ask the Chancellor of the Exchequer what assessment he has made of the effect of the proposal for a common EU withholding tax on the UK charities sector. [62335]

Dawn Primarolo

[holding answer 7 December 1998]: The draft EC directive on taxation of savings would only affect charities if they borrow from individual investors overseas. It would not apply to interest paid to a charity.