EU Directive (Taxation of Interest) (Hansard, 10 June 1999)

HC Deb 10 June 1999 vol 332 c380W 380W

§ Mr. Denzil Davies
To ask the Chancellor of the Exchequer if he will estimate the total amount of tax which would have been collected in the fiscal year 1998–99 by paying agents situated in the United Kingdom if the draft EU directive on the taxation of interest payments at the rate of 20 per cent. had been operational and if the UK had opted for the withholding regime. [85833]

§ Dawn Primarolo
It is not possible to estimate the revenue consequences of the situation described with any degree of certainty.