TAXATION OF INCOMES.

Rangitikei Advocate and Manawatu Argus, Volume XXXII, Issue 8867, 18 July 1907, Page 2

TAXATION OF INCOMES.

Press Association —Copyright. LONDON, July 17.

In the Houso of Commons in connection with the Finance Bill Mr Asquith refused to accept Mr J. F. Bawlinsou’s clause exempting income which lias already paid income tax in the colonies from assessment in Britain. Mr Asquith said he went verv thoroughly into the matter with Mr Donkin and Dr. Jameson at the Imperial Conference and he flattered himself he had succeeded in persuading them that it was quite impossible for the Imperial Government to make any change in the direction desired. Ho was unable to agree that any grievance existed in regard to individuals. If any man resided here ho enjoyed the protection of our laws and it was ouly fair that he'should contribute to income tax on his whole income wheresoever it arose. When n company was substantially controlled and diroclediu a colony or foreign country the income tax’ was ouly payable on the part of the profits remitted. Mr Lovertou Harris, member for Tower Hamlets, hoped that the next budget would that colonial and foreign companies which did their buisness in England, thereby competing with English companies, should pay income tax.