Excess Profits Tax Abolished
To provide a new stimulus to industry, thus benehting all sections of the coimminity, excess prohts tax is to be abolished. This tax was imposed solely ior war purposes, and its retention can 110 longer be justified. The object of the tax was, of course, to obtain for the State the greater proportion of the prohts arising from wartime activities. The continiiation of such a tax woulcl be a definite deterrent to industry," and, as I have already .explained, the Goveniment are particularly anxious to assist industry towards rehabilitation and expansion. The discontinuance of the excess prohts tax will result in a loss of taxation of approximately £500,000 per annum.
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19460816.2.48.4
Bibliographic details
Chronicle (Levin), 16 August 1946, Page 6
Word Count
114Excess Profits Tax Abolished Chronicle (Levin), 16 August 1946, Page 6
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