§ Mr. FlightTo ask the Chancellor of the Exchequer for what reason the Inland Revenue designated Indonesia as not being a suitable market in which to invest directly. [112312]
§ Miss Melanie JohnsonThe Inland Revenue has a discretionary power to recognise overseas stock exchanges for the general purposes of the Taxes Acts.
Government policy is to consider recognition on application by a foreign exchange. So it does not follow from the fact that an exchange is not recognised that it is considered by the Inland Revenue as unsuitable for investors.