§ Mr. BurnettTo ask the Chancellor of the Exchequer what estimates he has made of the loss of stamp duty reserve tax on cross-border mergers and take overs for the tax year 1998–99 through United Kingdom companies creating bearer shares denominated in foreign currency which are put into a depositary or clearance system. [74126]
§ Ms HewittThe proposed measure announced on 29 January to close a Stamp Duty Reserve Tax loophole relating to cross-border takeovers and mergers by UK companies is intended to protect the revenue from shares and other securities which is provisionally estimated to be £2.6 billion in 1998–99.
§ Mr. BurnettTo ask the Chancellor of the Exchequer what estimate he has made of the gross yield from stamp duty reserve tax for the tax year 1998–99. [74127]
§ Ms HewittNet receipts from stamp duty (including stamp duty reserve tax) on transactions of shares and other securities are provisionally estimated to be £2.6 billion in 1998–99.