TAXATION.

Taranaki Daily News, 25 January 1916, Page 6

TAXATION.

STRONG PROTEST BY XEW ZEALAND AGENTS. With respect to the proposed taxation of firms doing business in Britain, and which has since been put off by the British Government, the National Dairy Association's Home agent writes:— "You will, of course, know that the war is costing something like £5,000,000 daily; the accumulated wealth of half a century is being pouxed out without stint, but as we are unaccustomed to think in millions we cannot well appreciate what this means. The Chancellor of the Exchequer is naturally looking round for fresi. sources from which to draw revenue, and amongst others there lias been brought forward an amendment in the last 'Finance Bill with the object of imposing a tax on non-resident firms doing business in this country so as to make non-resi-dent persons chargeable to income tax in the name of any branch or maaager as well as in the name of any factor', agent or receiver. Should this proposal be retained in the Bill, it will mean a fairly stiff duty on all our butter and cheese. I have taken this up with a number of New Zealand firms doing business here—mainly wool and meat —and also a number of Tooley street firms. We are asking for exemption for the British dominions and hope to succeed. I will report more fully at a later date."